Kingfisher Airlines submits revival plan: Report
24 Dec 2012
Kingfisher Airlines, which has been grounded since 20 October 2012, today submitted a revival plan to the Director General of Civil Aviation (DGCA) ahead of the 31 December deadline set by the aviation regulator.
A CNBC-TV18 report quoting sources in DGCA, meanwhile, said the regulator has not yet taken a decision to lift the suspension of flying licence.
DGCA is expected to take a final decision on the licence renewal only after thoroughly discussing the revival plan with the airline.
The report also quoted sources as saying that the DGCA has not set any timeframe for final decision on the revival plan submitted by Kingfisher.
Kingfisher chairman Vijay Mallya had, earlier this month, proposed to start limited operations by pumping in Rs425 crore in the grounded carrier.
DGCA had sought details of the revival plan, including funding plan, even as lenders to the grounded airline have refused to give any more funds for the company.
