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Kingfisher Airlines submits revival plan

Posted on Dec 24, 07:19PM | IBNS

Kingfisher Airlines has submitted its revival plan to aviation regulator Directorate General of Civil Aviation (DGCA), media reports said on Monday.

The grounded private carrier received a blow in October when the DGCA suspended its flying licence following months of cancelled flights and strikes by its engineers and pilots over the issue of non-payment of salaries.

The DGCA suspended the flying license of the private carrier until it came out with a revival plan.

Pertinently, the license of the private carrier is due to expire on December 31.

"The news comes exactly a week after the airline's lenders met and were told that the carrier may infuse Rs. 425 crore in the carrier to 'partially restart' operations, " NDTV Profit reported quoting sources.

"The airline is likely to resume operations with only seven aircraft," the report said.

Kingfisher Airlines controlled by liquor baron Vijay Mallya has neither been able to pay salaries regularly since February nor has it managed to pay its dues to oil companies and airports, media reports said.