Thursday, April 11, 2013

Kingfisher Submits Plan To Restart Airline

India's grounded Kingfisher Airlines has submitted a plan to the country's aviation regulator to restart operations, asking for its license to be renewed with the help of funds from its parent UB Group, its chief executive said on Wednesday.
"We have given a complete plan... which includes our schedule that we plan to operate, the aircraft we plan to operate, the number of people we have," Sanjay Aggarwal told reporters in the Indian capital.

"We have requested that our license be renewed," he said, adding that the carrier plans to start operations with seven planes.
Kingfisher, controlled by drinks baron Vijay Mallya, who also owns UB Group, has been halted due to a cash shortage, and lenders are trying to recover USD$1.4 billion of loans in default.
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