Kingfisher gets NOC from oil firms, leasers to fly again
NEW DELHI (Reuters) - Kingfisher Airlines(KING.NS) has been given a "no objection certificate" from oil companies and some aircraft leasing companies to restart operations, a senior regulatory source said on Wednesday.
Kingfisher shares extended gains to 6 percent on the news.
The airline, which lost its operating licence at the end of 2012 and has not flown since the start of October, has not secured approval from airports to fly again, the source at the Directorate General of Civil Aviation (DGCA) said on condition of anonymity.
Kingfisher, which is estimated to owe $2.5 billion in debt to banks, staff, vendors and others, has submitted a $119 million revival plan to the regulators. An official at the DGCA said last week that the plan would not be sufficient to rescue the airline.
(Reporting by Anurag Kotoky; Editing by Gopakumar Warrier)
- Tweet this
- Share this
- Digg this
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- India Inc happy with Modi, but holding back on investment: poll
- Modi to launch plan for every Indian household to have bank account
- U.S. seeks coalition against Islamic State, but military partners no sure bet
- Modi eyes breakthrough nuclear pact on Japan trip
CEOs in India are optimistic that Prime Minister Narendra Modi will spur the economy, an opinion poll showed on Thursday, but most are not ready to make new investments and say there are no signs yet of improvement on the ground. Full Article
Adani buys Australia coal mine royalty rights from Linc for $145 million Full Article