Top Indian carrier Naresh Goyal-led Jet Airways has sought government help to secure additional working capital loans from banks and an extended credit period from state-run oil marketing companies,it was reported on Wednesday. The airline,which has a two-month credit period with oil companies,hopes to get this extended to three months,the report quoted an unnamed company official as saying. Jet also wants help to secure 10 billion rupees ($202.57 million) in working capital loans,the official added. A company spokesperson could not be immediately reached for comment. In January,Jet posted its fourth straight quarterly loss,as it struggled with high fuel costs and low fares. India's airline companies face a severe cash-crunch and have a massive debt pile of about $20 billion. Jet itself has a debt of about 140 billion rupees ($2.84 billion),the report said. All but one of India's six main airlines are loss-making,with state-run Air India on government life-support. Jet is yet to pay January salaries to employees,the report said. In a move to help the embattled sector,the federal government recently allowed India's airlines to import jet fuel directly. ($1 = 49.3650 Indian rupees)
