Kingfisher had a few weeks ago submitted an application for renewal of its flying permit, which is due to expire on December DGCA officials had then said a decision to renew or revoke the suspension of its Standard Operating Permit SOP cannot be taken till it submitted a comprehensive financial and operational revival plan, that was given Monday.
Financially stretched Kingfisher Airlines Wednesday submitted a plan to restart operations to the aviation regulator which had cancelled its flying licence over safety concerns last year. The entire plan has been shared," Aggarwal said. According to Aggarwal, the company plans to initially start operations with funding coming in from the parent UB United Breweries Group, with a total fleet of seven aircraft.
The funding alone is estimated at around Rs. The company earlier submitted a similar plan to the DGCA in Decemberafter the aviation regulator cancelled its flying licence over safety concerns on Oct 20, The airline has not been given any slot in the ongoing summer schedule prepared by the DGCA.
It has not operated flights since Oct 1,after a lockout following a strike. The first part dealt with a limited re-start utilising seven aircraft ramping up to 21 aircraft in four months, which is quite similar to the current plan submitted Wednesday.
The second part of the plan had envisaged a full-scale rehabilitation of the airline by increasing the fleet size to 57 aircraft within 12 months of recapitalisation. Under the government provisions, the airline has two years for applying afresh for the renewing of licence.
The airline has a total debt of Rs. The airline is also trying to woo foreign investors by putting up nearly 46 percent of the permitted 49 percent stake in the company for sale.
The company was said to be in talks with Middle East-based airlines for a possible stake sale.As per the revival plan submitted to DGCA last month, Kingfisher had said it would require about Rs crore over the next 12 months for running its operations.
These funds would come from the UB Group’s resources as banks were unwilling to .
Kingfisher Airline’s promoter Vijay Mallya has told the Government that work was going on with regard to the revival plan for the debt-strapped airline. Dec 17, · Kingfisher has said it was in talks for selling stake to Etihad, the national airline of the United Arab Emirates.
Pratip Chaudhuri, chairman of State Bank of India (SBI), had said the airline needed infusion of at least $1 billion (Rs 5, crore) to make it . Vijay Mallya writes to employees, lists out revival plan for Kingfisher Airlines writes to employees, lists out revival plan for Kingfisher Airlines rehabilitation of our airline growing.
India's embattled Kingfisher Airlines has submitted a fresh revival plan to aviation authorities as it seeks permission to restart operations. The airline's parent firm, UB Group, will inject 6. Kingfisher Airlines' revival plan not enough to restart operations: DGCA 11 Jan Kingfisher Airlines ' planned investment of billion rupees (USD million) as part of a plan to return the Indian airline to the skies is not enough to restart operations at the troubled carrier, aviation regulator Directorate General of Civil Aviation (DGCA) said on .