Kingfisher to arrange own funds to restart airline
26 October 2012
The Director General Civil Aviation today said grounded carrier Kingfisher Airlines will raise its funding from its own resources to get the carrier airborne.
Kingfisher agreed this week to pay four months of overdue salaries to its staff, following which its employess have resumed work.
The DGCA said it has asked the debt-ridden airline to prepare and submit its winter schedule.
In a statement, the aviation regulator said, "The CEO further informed that at present, the source of funding for the airline will be through their own resources."
Liquor-baron Vijay Mallya promoted Kingfisher Airlines, has been grounded since the beginning of this month, following prolonged employee protests against prolonged non-payment of salaries.
Last week the airline's engineers to suspended work, bringing aircraft airworthiness certification to a standstill. this led the DGCA to suspend the carrier's licence over safety concerns (See: DGCA suspends Kingfisher's licence).