Kingfisher Airlines owes state-run Hindustan Petroleum Corporation Limited (HPCL) Rs 505.53 crore in jet fuel dues against a bank guarantee to HPCL of Rs 434 crore, says HPCL. “If Kingfisher fails to pay our dues, we have the option of encashing the bank guarantee. But as of now we are hopeful that the entire dues will be realised,” a senior official from HPCL told local newspaper, Business Standard.

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