Unlike private carriers such as Jet Airways and Kingfisher Airlines, Air India has not given any security as insurance against default, the Lok Sabha was informed on Friday.
In a written reply to a question, Minister of State forPetroleum & Natural Gas Panabaaka Lakshmi said of the total outstanding of Rs 4,277.11 crore (Rs 42.77 billion) as on December 31, 2012, a sum of Rs 2,639.65 crore (Rs 26.39 billion) is overdue payment.
Overdue payment is the outstanding that has remained unpaid even after expiry of a 90 day credit or grace period provided by the oil companies.
She had in December told the Rajya Sabha that Air India's outstanding was Rs 4,064.77 crore (Rs 40.64 billion), with Rs 2,571.73 crore (Rs 25.71 billion) as overdue payment.
The reply today indicates that Air India's outstanding has risen since then.
The minister on Friday told the Lok Sabha that Air India, the unprofitable state-owned carrier, owes Rs 2,514.97 crore (Rs 25.14 billion) to Indian Oil Corporation, of which Rs 1,703.63 crore (Rs 17.03 billion) is overdue payment.
It owes another Rs 754.75 crore (Rs 7.54 billion) to Bharat Petroleum Corp Ltd and Rs 1,007.39 crore (Rs 10.07 billion) to Hindustan Petroleum Corp Ltd.
Jet Airways owes Rs 910 crore (Rs 9.1 billion) to IOC but of this only Rs 107.52 crore (Rs 1.07 billion)
PSUs not floating in cash any more
Petrol price hiked by Rs 1.50, diesel 45 paise
15 more aircraft to be added in Air India Express fleet
Anadarko, Venugopal Dhoot put gas asset on the block
Markets consolidate further