ibnlive » Business

Dec 31, 2012 at 02:13pm IST

Kingfisher licence to be renewed if revival plan okayed: DGCA sources

New Delhi: In fresh ray of hope for the Kingfisher Airlines, sources in the aviation regulator, the Directorate General of Civil Aviation (DGCA), said that the licence of the cash-strapped carrier would be renewed if its revival plan gets a go-ahead.

According to the sources, the DGCA asked the airlines for commitment on funding, urging it to talk to its stakeholders. "We have asked KFA for commitment on funding...want assurance from the UB Group on funding," said sources.

They further said that the crisis-ridden airline must satisfy the stakeholders with the revival plan for the renewal of its licence, adding that it had not provided clarity on funding operations.

Kingfisher licence to be renewed if revival plan okayed: DGCA sources

The DGCA asked Kingfisher Airlines for commitment on funding, urging it to talk to all the stakeholders.

This comes two days after the DGCA met Kingfisher Airlines vice president Hitesh Patel over the issue. The licence of Kingfisher Airlines is set to expire on Monday.

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