- First Look; Trailer of Prem Ratan Dhan PayoRivera welcomes baby boyGauhan gears for new reality showSee Harbhajan-Geeta Basra\'s wedding cardSalman Khan\'s Prem lover boy avatar has always been a hitPics: Russian air strikes in Syria against Assad enemies\'Yeh Dil Maange Momos!Sussanne rubbishes marriage rumoursSRK to promote Bengal as 'sweetest' destinationShruti reaches three million followers
Riding on forward SK Uthappa's twin strike, the Indian men's hockey team posted yet anothe
Kingfisher Airlines seeks time from DGCA for revival plan Last Updated : 16 Nov 2012 08:56:00 AM IST Kingfisher Airlines seeks time from DGCA for revival plan
Cash-strapped Kingfisher Airlines, in a letter to the Civil Aviation secretary K N Shrivastava, has sought more time to submit a comprehensive revival plan to the aviation regulator DGCA citing that the airline is in discussions with all stakeholders.
Kingfisher Airlines, which is yet to pay part dues to its employees,is seeking more time to submit its plan to get the suspension of its flying permit revoked,sources said.
In the letter, the liquor baron Vijay Mallya-owned airline is understood to have said it was holding discussions with all stakeholders, including the Airports Authority of India, and its lenders as it had earlier promised to the Directorate General of Civil Aviation.
The letter came a day after its employees threatened to chalk out an action plan next week if they did not receive their May salaries by November 17. Employees' sources said they had not received the dues even today.
The communication also came in the backdrop of airport operators asking the DGCA to keep on hold the renewal of Kingfisher's license until their dues are cleared.While no timeframe has been set for the debt-ridden airline to submit a comprehensive financial and operational revival plan, its flying license or scheduled operator's permit (SOP), which is suspended now, is slated to expire in any case on December 31 this year.
DGCA had suspended Kingfisher's SOP on October 19 till further orders after a lockout and its failure to come up with a viable plan of financial and operational revival. It had charged the airline with failing to run "safe, efficient and reliable operations."
The SOP suspension came after a lockout on October 1 following a strike by the employees from September 30 demanding payment of overdue salaries. Kingfisher's operations have been grounded since then.
The lockout was lifted on October 25 after the employees called off the strike following an assurance by Kingfisher CEO Sanjay Aggarwal that three months dues would be cleared in a staggered manner before Diwali.
The management had brokered peace with the striking employees on the eve of the Indian Grand Prix late last month in Greater Noida, in which Mallya was involved. The employees had threatened to disrupt the premier motor racing event.
The bankers of Kingfisher have also warned the airline to arrange for more capital by November 30, though Mallya has denied any deadline issued by the lenders to his company.
Kingfisher Airlines has accumulated losses of about Rs 9,000 crore as on September 30 due to huge restructuring costs, prior-period tax payments, costs related to its heavy debt burden of about Rs 8,000 crore and disrupted operations.Source:PTI, Other Agencies, Staff Reporters
Post Your Comment (0 posted):
"Hate Story 2" actress Surveen Chawla has quashed rumours that she is participating on the
- Sridevi's daughter Khushi kisses Jack Gilinsky
- Jab Kareena met Mira and Shahid met Saif
- 'Guddi Ki Gun' trailer released: Watch now
- BO clash of "Dilwale", "Bajirao Mastani" unfortunate: Priyanka
- Aishwarya doesn't like to be tagged as glamorous
- When Deepika and Ranveer shared a cute kiss
- Parineeti gets in a new skin
- Is Sooraj Pancholi dating Elli Avram?
A dog in the US had to be rescued after it accidentally knocked its owner's idling truck i
Google fired back at Apple with a pair of new smartphones, a "convertible" tablet and othe