New Delhi: Kingfisher Airlines has been given a "no objection certificate" from oil companies and some aircraft leasing companies to restart operations, a senior regulatory source said on Wednesday. Kingfisher shares extended gains to 6 percent on the news.
The airline, which lost its operating licence at the end of 2012 and has not flown since the start of October, has not secured approval from airports to fly again, the source at the Directorate General of Civil Aviation (DGCA) said on condition of anonymity.
Kingfisher, which is estimated to owe $2.5 billion in debt to banks, staff, vendors and others, has submitted a $119 million revival plan to the regulators. An official at the DGCA said last week that the plan would not be sufficient to rescue the airline.
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Kingfisher Airlines is an airline based in Bangalore, India. It operates more than 400 flights a day and has a network of 77 destinations, with regional and long-haul international services.
Its main bases are Bengaluru International Airport, ...
Vijay Mallya was born on December 18, 1955. He is the Chairman of the United Breweries Group and Kingfisher Airlines, The United Breweries Group's flagship beer brand; Kingfisher is famous across the world. Mallya`s hometown is Bantwal, ...
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