The revival plan of Vijay Mallya-led Kingfisher Airlines’ (KFA), submitted to the Director General of Civil Aviation (DGCA) recently, may not garner the response the cash-starved airline promoted by Vijay Mallya is expecting.
Answering a specific question from Deccan Herald on Tuesday, Arun Mishra, DGCA said, “There is nothing much in the revival plan apart from funding from the UB Group. But we are still examining it.”
KFA Chief Executive Officer Sanjay Agarwal had submitted the new start plan on Wednesday last, but sources said that it was not concrete and several of the airline’s past problems continue to plague it, including the issue of delayed salaries and unsettled term loans from banks and private lenders.
Kingfisher Airlines owes over Rs 7,500 crore to banks and the action by lenders is seen as a big jolt to Vijay Mallya's plans of reviving the airline. The airline was grounded in December 2012, after its licence was suspended by the DGCA following unrest by the employees and disruption of flights.
16/04/13 Deccan Herald
