by Admin 2013-01-12 | Like 36 |1446 Views

Kingfisher revival plan not enough to restart operations

Kingfisher revival plan not enough to restart operations

NEW DELHI (Reuters) - Kingfisher Airlines\' planned investment of 6.5 billion rupees as part of a plan to return the airline to the skies is not enough to restart operations at the troubled

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n the latest twist to the Kingfisher Airlines crisis, sources on Friday said that the money to revive the cash-strapped airline will come from Vijay Mallya\'s UB Group as there is no investor available in the near term. Kingfisher CEO Sanjay Aggarwal met the Directorate General of Civil Aviation (DGCA) officials on Friday afternoon and will now meet Mallya to

UB Group will fund Kingfisher Airlines\'...

Description : n the latest twist to the Kingfisher Airlines crisis, sources on Friday said that the money to reviv...

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Ailing carrier Kingfisher Airlines on Monday submitted its revival plan to aviation regulator Directorate General of Civil Aviation (DGCA) in a bid to restart limited operations after having remained grounded for almost three months.

Kingfisher Airlines submits revival plan...

Description : Ailing carrier Kingfisher Airlines on Monday submitted its revival plan to aviation regulator Direct...

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The meeting between bankers and management of ailing Kingfisher Airlines on Friday is being considered crucial as it will determine the future course of action by lenders.

Kingfisher management to meet lenders to...

Description : The meeting between bankers and management of ailing Kingfisher Airlines on Friday is being consider...

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The ailing Kingfisher Airlines on Monday offered to pay one month salary to its employees in 24 hours during a closed-door meet with the representatives of its pilots\' and employees\' unions. Sources said that the airline company further offered to pay the second month salary within a week and the salaries for the third month before Diwali. However, the staff

Kingfisher Airlines offers to pay a mont...

Description : The ailing Kingfisher Airlines on Monday offered to pay one month salary to its employees in 24 hour...

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Kingfisher Airlines (KFA) faces the threat of its prime slots on the major metro routes being given away to rival carriers if it fails to resume operations in full swing, say civil aviation ministry source.

DGCA to Kingfisher: Show flight schedule...

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New Delhi: Adding twist to the Kingfisher Airlines crisis, sources said that the airline will not be able to pay the full salaries to its employees. The current monthly salary outgo for Kingfisher Airlines stands at approximately Rs 20 crore. Half of the airline staff were paid their March salaries but for the outstanding salaries, the airline will need Rs 10 crore.

KFA will not be able to pay full salarie...

Description : New Delhi: Adding twist to the Kingfisher Airlines crisis, sources said that the airline will not be...

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Troubled Kingfisher Airlines Chairman Vijay Mallya will be attending the Indian Grand Prix event at Greater Noida later this week. Mallya will be returning at a time when the airline is in the middle of a crisis. The employees of Kingfisher Airlines wanted to speak directly to Mallya on their issues, but they were not given permission to do so.

Vijay Mallya to attend Indian Grand Prix...

Description : Troubled Kingfisher Airlines Chairman Vijay Mallya will be attending the Indian Grand Prix event at ...

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State Bank of India Chairman Pratip Chaudhuri wants the beleaguered Kingfisher Airlines (KFA) to act quickly on repaying its bank loans. When asked if he is willing to give the airline more time, Chaudhuri said, “No….time is of essence. So, we think the company should act faster. It is a big company and with a whole group of banks, action is happening.”

A consortium meeting of 17 lenders led by State Bank of India is likely to take a call on February 12 on initiating recovery proceedings, including a change of management, against the debt-laden airline, said a senior banker close to the development. Though banks and KFA management have held talks over the last one year for recovering their dues and reviving the airline, no headway has been made yet. The airline owes about Rs 7,000 crore to banks.

SBI Chief: Kingfisher needs to pay up so...

Description : State Bank of India Chairman Pratip Chaudhuri wants the beleaguered Kingfisher Airlines (KFA) to act...

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