New Delhi: The directorate general of civil aviation ( DGCA) met Hitesh Patel, chief financial officer (CFO) of Kingfisher Airlines (KFA), today, asking the airline to seek assurance from the United Breweries (UB) Group on the funding of Rs 652 crore, in line with the carrier’s revival plan to start limited operations.
“We have asked KFA for commitment to funding. We would like to see an assurance from the UB Group on the financing of the revival plan. KFA must satisfy the various stakeholders with the revival plan, and should engage in talks with them,” DGCA sources said.
“The licence suspension will be revoked only after the stakeholders are convinced with the plan. We have received letters from the Airport Authority of India (AAI) and Mumbai International Airport Ltd not to let KFA fly till its dues are cleared,” they added.
DGCA has also asked KFA to furnish further financial details, as the plan was absolutely silent on the payment of dues to vendors (airport operators, oil companies etc) and lenders. However, no deadline has been set for their submission.
30/12/12 Business Standard
