New Delhi: The financially-stretched UB Group will infuse funds into Kingfisher Airlines, the Directorate General of Civil Aviation (DGCA) was told by the airline management on Friday.
After a 25-day standoff, Kingfisher employees have begun reporting for duty, prompting Vijay Mallya to tweet: "All Kingfisher Team members back at work and fully supportive. I sincerely thank all of them for their faith and continuing commitment."
However, Kingfisher Airlines' revival is not dependent on paying its employees four months' salaries (nearly 80 crore) by December, but also on the carrier having a clear plan of action to clear dues to airport operators, oil companies and other stakeholders.
The aviation regular is understood to have directed the cash-strapped carrier in a meeting with the airline CEO Sanjay Aggarwal. "The aviation regulator will look at financial viability of the airline and the carrier will need to pay oil companies, Airports Authority of India (AAI) and the maintenance and repair companies. Aggarwal is expected to submit a revival plan soon," sources in the DGCA said.
27/10/12 Economic Times
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After a 25-day standoff, Kingfisher employees have begun reporting for duty, prompting Vijay Mallya to tweet: "All Kingfisher Team members back at work and fully supportive. I sincerely thank all of them for their faith and continuing commitment."
However, Kingfisher Airlines' revival is not dependent on paying its employees four months' salaries (nearly 80 crore) by December, but also on the carrier having a clear plan of action to clear dues to airport operators, oil companies and other stakeholders.
The aviation regular is understood to have directed the cash-strapped carrier in a meeting with the airline CEO Sanjay Aggarwal. "The aviation regulator will look at financial viability of the airline and the carrier will need to pay oil companies, Airports Authority of India (AAI) and the maintenance and repair companies. Aggarwal is expected to submit a revival plan soon," sources in the DGCA said.
27/10/12 Economic Times
