The public sector oil company, Indian Oil Corporation (IOC) has stopped supplying aviation fuel to Jet Airways. The IOC stopped fuel supply as the Jet has not paid the earlier arrears. Jet has to pay huge amount to IOC. The IOC has stopped supplying fuel from yesterday.
Jet Airways which faces a financial crisis has stopped its regular services. The Jet is operating only 26 flights, earlier it has operated around 150 flights. Some days earlier 18 flights has been taken by the companies as jet has not payed the rent.
Jet founder Naresh Goyal and his wife has stepped out of the director board as move to raise fund to rejuvenate the biggest private airline in India.