Lockdown: Vistara defers payments to some suppliers, says internal memo
Indian air carrier Vistara has negotiated a reduction and deferment of payments to some suppliers to conserve cash, the airline’s CEO said in an internal memo, after the government extended India’s lockdown to contain the coronavirus (Covid-19).
The coronavirus pandemic has brought air travel to a virtual standstill, with many airline fleets grounded and no visibility on when travel restrictions will be eased.
Prime Minister Narendra Modi on Tuesday extended India’s nationwide lockdown – which began on March 25 – until May 3.
In an email to employees, Vistara CEO Leslie Thng said it was of “paramount importance” to do everything possible to conserve cash.
