Aviation

Indian airlines seek $1.5 billion interest fee credit line: Hardeep Singh Puri

Cash-strapped Indian airlines have asked the government to set up an interest free credit line of at least $ 1.5 billion for the aviation sector, civil aviation minister Hardeep Singh Puri said on Wednesday.

Replying to questions by Trinamool Congress member of parliament (MP) Derek O’Brien on losses of the sector and relief sought by airlines at the Rajya Sabha on Wednesday, Puri said that the airlines have also asked for banks and financial institutions to defer repayment of loans to aviation industry by six months, while not treating it as Non Performing Assets (NPA).

Apart from these, airlines have also asked the government to bring jet fuel under the ambit of Goods and Services Tax (GST), abolishing excise duty on jet fuel from 11% to zero

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