Economy, Domestic Economy

Airlines’ Debt to NIOPDC Unpaid

Airlines’ Debt to NIOPDC UnpaidAirlines’ Debt to NIOPDC Unpaid

Iranian airlines owe more than 7.1 trillion rials (about $265 million based on official exchange rates) for fuel to the National Iranian Oil Products Distribution Company (NIOPDC) by the end of Shahrivar (September 22, 2014), Davood Arabali, the company’s spokesman told ILNA on Wednesday. “The company has frequently extended the debt payoff period for the airlines only as a sign of respect for the passengers,” the NIOPDC official said. According to the pacts signed between the NIOPDC and the domestic airlines, they are expected to wire their debts to the treasury and from that time on, they are required to pay for fuel immediately after buying it from NIOPDC.