Economy

Kingfisher revival plan in progress, Mallya tells aviation Secy

Our Bureau New Delhi | Updated on March 12, 2018 Published on October 30, 2012

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.

Mallya conveyed this at a meeting that he had with Civil Aviation Secretary K.N. Shrivastava here on Tuesday. Sources indicated that at the meeting Mallya did not disclose from where funds would come for the airline’s recapitalisation or by when it would restart flights.

As in the past few meetings that senior officials of Kingfisher Airlines had with senior Government officials, verbal assurances were given about the revival plan and recapitalisation.

The airline ceased operations on October 1 after its employees refused to continue working till they were paid back salaries owed for the past seven months.

On October 20, the Directorate General of Civil Aviation suspended Kingfisher’s licence, claiming that it had failed to respond to the show-cause notice issued earlier.

In an effort to resolve the crisis, the airline paid March salaries to its employees recently and assured them that salaries for April and May would be paid before Diwali on November 13.

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Published on October 30, 2012
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