Kingfisher Airlines has not yet submitted revival plan to resume operations, Civil Aviation Minister Ajit Singh told reporters today. The airline has been asked by the Directorate General of Civil Aviation to submit a comprehensive report suggesting steps that can help it to operate flights smoothly.
Experts say, the airline has not yet managed to raise funds and hence the delay in submitting a comprehensive plan to the regulator. The company has to give a full proof plan on how and when it will clear staff and bank dues before resuming flights.
Earlier this year, chairman Vijay Mallya had said that he is keen to resume operations with seven planes by March, then extend it to 21 and later over 50 aircraft will be put on the network. But he has been unable to raise equity due to resistance from investors.
The airline's licence has also been suspended due to non-compliance of certain norms. The airline has two years time to get its permit renewed. But unless the airline raises equity and pays its staff, it cannot apply for licence renewal.
21/03/13 Moneycontrol.com
