The Directorate General of Civil Aviation (DGCA) has rejected Kingfisher Airlines' (KFA) revival plan that it had submitted to the aviation regulator this month, NDTV has learned.
Kingfisher had requested renewal of its operating permit with the help of funds from its parent UB Group. The cash-strapped airlines owes over Rs. 390 crore, including penal interests to the Airports Authority of India (AAI).
"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." sources told NDTV.
Sources in DGCA say Airports Authority not convinced over payment of dues by the airline.
01/04/13 Faizan Mohammad Khan/NDTV.com