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
- Indiana police charge suspect who may have killed for decades
- Oil falls below $86 as oversupply, global economy worries weigh
- Total CEO de Margerie killed in Moscow business jet accident
- UPDATE 7-Total CEO de Margerie killed in Moscow business jet accident
- UPDATE 2-Texas investor Sam Wyly files for bankruptcy after losing SEC fraud case
China grew at its slowest pace since the global financial crisis in the September quarter and risks missing its official target for the first time in 15 years, adding to concerns the world's second-largest economy is becoming a drag on global growth. Full Article
Total CEO de Margerie killed in Moscow plane accident - airport spokeswoman. Full Article