KF revival plan rejected
Posted on: 02/May/2013 11:23:04 AM
The Kingfisher Airlines revival plan has been rejected by DGCA (Directorate General of Civil Aviation). The plan was submitted earlier to the authority in a bid to renew its operating permit which was suspended last year.
The Airline owes the Airports Authority of India (AAI) Rs. 390 crores in all. It has been grounded since October last year because of a disruption in its flight schedules following unrest by its employees. The Airline has suggested that the loans can be paid off by the parent company UB Group.
‘Financial aid of Rs. 650 crore from parent company is not sufficient to restart operations. Details on fund infusion,clarity on how and when fund will infused is still not convincing by Kingfisher… Airports Authority not convinced over payment of dues by the airline’, say sources.
