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DGCA yet to receive Kingfisher revival plan: Ajit Singh

CNN-IBN
Dec 18, 2012 at 04:54pm IST

New Delhi: Union Civil Aviation Minister on Tuesday said that aviation regulator Directorate General of Civil Aviation (DGCA) had not received any revival plan from the Kingfisher Airlines. It is vital that the cash-strapped airline satisfies the DGCA that it has enough financial strength before resuming its operations.

The complete revival plan of the Kingfisher Airlines has to be submitted to the DGCA, following which the aviation regulator will take a final call on it. Notably, the licence of Kingfisher Airlines is slated to expire on December 31, and also, the Cabinet Committee on Economic Affairs (CCEA) is also scheduled to discuss the issue on Saturday.

This comes a day after the Kingfisher Airlines, which is currently grounded, said that it would restart its operations very soon. The announcement was made in a statement on Monday. However, the cash-strapped airline would start its operations in a phased manner.

DGCA yet to receive Kingfisher revival plan: Ajit Singh

It is vital that the cash-strapped airline satisfies the DGCA that it has enough financial strength before resuming its operations.

According to the statement released by the airline, Kingfisher would provide funding for its operation itself, and had not asked banks for any support. The company also referred to a recapitalisation plan which would be discussed with a small designated group of bankers.

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