SRINAGAR: Subscribers of the financially struggling telecom company, Aircel, may have to wait longer for clarity on whether the company will continue after the operator shut down its services in most parts of India.
Sources in the company told Kashmir Reader that the shutdown, which occurred Wednesday evening, has been explained as being due to network issues, which it is trying to solve at the earliest. The shutdown occurred after the Idea cellular network snapped interconnectivity with Aircel, due to pending dues of about Rs 60 crore.
“Nothing is clear as of now. We have only been told to wait for some days as the company is trying to resolve the issues,” a top official in Aircel’s JK office told Kashmir Reader on condition of anonymity.
The company has been operating its services mostly through interconnectivity towers across India. As per an Economic Times report, the company has a debt of Rs 15,000 crore, leading the Reserve Bank of India to dub it a non-performing asset for banks. Due to its bad accounts, it has already suspended operations in Gujarat, Maharashtra, Haryana, Himachal Pradesh, Madhya Pradesh, and Uttar Pradesh (West). The situation was so bad that the company’s website was not even on the server on Wednesday.
However, the sources said, there is a little hope for the company in some profit-making circles, of which JK is one. Sources said that out of the Rs 120 crore profit earned by the company in the September-December quarter, nearly Rs 30 crore added to its kitty came from JK.
“The disruption caused by Jio is known to all. Aircel was affected too. Last year, the company was trying find a way to restructure its profit-making circles and shut loss-ridden ones,” the sources said. “Amidst this, the sudden shut down happened. The company is now trying to strike a deal with other operators.”
Aircel is the second-largest network after Airtel in JK, with a customer base of around 35 lakh and is famous for operating during the floods, when other networks were suspended. Aircel has around 5,000 employees on at its rolls in India. Despite going through bad financial conditions, salaries were never an issue at the company.