|
|
|
|
|
30th Muharram 1436 | Sunday, Nov 23, 2014
Business

Kingfisher flutters to fly again, DGCA unimpressed

Wednesday, 16 January 2013
Comments(0)
New Delhi, January 16:

Grounded Kingfisher Airlines on Wednesday made another attempt to convince DGCA on its revival plans, but failed to provide any details on its funding which the aviation regulator wanted.

Kingfisher CEO Sanjay Agarwal met Director General of Civil Aviation (DGCA) Arun Mishra here for 45 minutes to apprise him of the prevailing scenario facing the airline, but sources said he gave no information about any commitment by the airline's parent company, UB Group, on financing the revival plan.

Related Stories
Kingfisher Airlines gets no objection certificate from Oil companies
The sources said Agarwal told the regulator that the airline would be ready to resume operations from the Summer Schedule, that begins in April.

The Kingfisher chief said the airline has not received no-objection certificates from any of the airport operators, including the Airports Authority of India, though he claimed that some of the oil companies and aircraft leasing companies have given it a go-ahead.

Today's meeting comes days ahead of a crucial meeting of a consortium of bankers that have lent over Rs 7,500 crore to the now defunct airline.

The consortium has been refusing to lend any more money to the airline till the promoters bring in more funds. The airline suspended operations on October 11, last year and its operating licence lapsed on December 31.

In the recent past, Civil Aviation Ministry officials had made it clear that they were not satisfied by Kingfisher's plans to invest Rs 650 crore as it might not guarantee efficient and reliable services.

"The revival plan, which was submitted by the airline, had lot of issues regarding lenders and staff payment which we felt may not lead to reliable services," a senior officer had said, adding it had no provision for payment to airport operators.

Salaries and allowances of the staff have also been pending for over eight months now, while the airline owes money to airport operators, oil companies and other vendors.

PTI

Latest News

Burj Khalifa, the site for world's highest selfie

Taking the selfie phenomenon to a new level, a 47-year-old British photographer captured an image of ...

New crew aboard Russian spaceship reach ISS

Three new crew members from the US, Russia and Italy arrived Monday at the International Space Station (ISS) on board a Russian spaceship. ...

Middle-aged parents increasingly flocking to Tinder dating app

Tinder dating app is being used more and more by middle-aged mums and dads and the number of 35 to 4 ...

Related News

India needs more banks, but bigger banks too: Citi India CEO

As RBI readies for licensing of some niche-segment banks, global banking giant Citibank's India chie ...

Govt to streamline subsidies, cheap LPG for rich may go: Jaitley

A reduction of the scope of subsidies currently being provided to well-off people appears to be on t ...

'Hunger Games: Mockingjay' earns...

The latest Hunger Games franchise 'The Hunger Games: Mockingjay, Part 1' has earned 123 million dollars from 4,151 locations, making its wor ...

Post new comment

To combat spam, please enter the code in the image.

Rs. 26170 (Per 10g)

Opinion Poll
Don't you think Arshad Ayub should have been made the manager not only for Tests but also ODIs for India's Oz tour?
YesNoCan't say

Matrimony | Photos | Videos | Search | Polls | Archives | Advertise | Letters

© The Siasat Daily, 2012. All rights reserved.
Jawaharlal Nehru Road, Abids, Hyderabad - 500001, Telangana, India
Tel: +91-40-24744180, Fax: +91-40-24603188
contact@siasat.com