New Delhi: Kingfisher Airlines Ltd, which had its licence suspended last week, will use its own money as it tries to resume flying, India's air regulator said on Friday, a day after the grounded carrier persuaded striking staff to return to work.
The aviation regulator also said Kingfisherwould need approval for a revival plan from, among others, oil companies and airport operators, which have struggled to collect money owned by the cash-strapped airline.
Kingfisher, controlled by liquor baron Vijay Mallya, has not flown since the start of this month after a protest by employees, unpaid since March, turned violent. On Saturday, the Directorate General of Civil Aviation suspended the carrier's licence over safety concerns.
Kingfisher, which was India's second-largest carrier before financial woes forced it to ground most of its fleet earlier this year, has been scrambling without success to find investors to bring in fresh capital.
"He (the regulator) said that the DGCA would like to get satisfied that all major stakeholders like airport operators, oil companies, MRO (maintenance and repair organisations), AAI (Airports Authority of India) are taken on board for supporting the airline's revival plan," the DGCA said in a statement after a meeting with Kingfisher CEO Sanjay Aggarwal.
26/10/12 Reuters/Economic Times
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The aviation regulator also said Kingfisherwould need approval for a revival plan from, among others, oil companies and airport operators, which have struggled to collect money owned by the cash-strapped airline.
Kingfisher, controlled by liquor baron Vijay Mallya, has not flown since the start of this month after a protest by employees, unpaid since March, turned violent. On Saturday, the Directorate General of Civil Aviation suspended the carrier's licence over safety concerns.
Kingfisher, which was India's second-largest carrier before financial woes forced it to ground most of its fleet earlier this year, has been scrambling without success to find investors to bring in fresh capital.
"He (the regulator) said that the DGCA would like to get satisfied that all major stakeholders like airport operators, oil companies, MRO (maintenance and repair organisations), AAI (Airports Authority of India) are taken on board for supporting the airline's revival plan," the DGCA said in a statement after a meeting with Kingfisher CEO Sanjay Aggarwal.
26/10/12 Reuters/Economic Times
