Indian Oil's jet fuel business recovered by 60 pc

Sanjay Sahay, Executive Director (Aviation), Indian Oil said the company's jet fuel business has recovered by 60 per cent.

Panaji: Indian Oil Corporation's jet fuel business has recovered by 60 per cent, while the domestic sector sales are likely to touch full capacity by March, this year, a senior official has said.

There was a drop in the jet fuel business following coronavirus-induced restrictions but from May 25, 2020 onwards, the aviation sector has re-started and has led to increased demand.

"By this time, it has recovered up to 60 per cent," Sanjay Sahay, Executive Director (Aviation), Indian Oil told PTI on Monday.

With COVID-19 vaccine optimism, more recovery will come, Sahay noted.

India's drugs regulator on Sunday approved Oxford-AstraZeneca's COVID-19 vaccine Covishield, manufactured by the Serum Institute, and indigenously developed Covaxin of Bharat Biotech for restricted emergency use in the country, paving the way for a massive inoculation drive.

"We hope the domestic sector will be fully recovered by the end of March," he said.

The international sector may take little more time, he added.

"The IOC had sales of five million metric tonnes during pre-pandemic times. We are picking up very fast. Domestic Airlines are doing very well. Lot of new routes are also opened, which we are supporting," Sahay said.

(PTI)