Jetstar Pacific owes $8.7 mln fuel debt

Budget carrier Jetstar Pacific owes VND180 billion (US$8.7 million) to fuel supplier Vietnam Air Petrol Company, the latter’s CEO Tran Huu Phuc said at a press conference yesterday.

Vinapco had said June 1 it would continue to supply jet fuel to Jetstar Pacific and extend the payment deadline until August if it was guaranteed by a bank or its majority stake holder, the State Capital Investment Corporation, which owns a 70 percent stake.

But with Jetstar Pacific not responding to the offer, the supplier has asked the carrier to pay an advance of VND3.6 billion ($180,000) daily for fuel from June 5.

After its fuel-supply contract with Jetstar Pacific ended May 31, Vinapco reported about the airline’s debt to the Civil Aviation Administration of Vietnam, the Ministry of Finance, the Vietnam Competition Authority, and its parent Vietnam Airlines.

But none them have suggested a solution yet. – Tuoitre

Tags: Jetstar Pacific, Vietnam aviation, Vietnam aviation industry, Vietnam aviation market

Posted by VBN on Jun 8 2011. Filed under Aviation. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry