Willing to support Kingfisher revival plan: govt source
NEW DELHI (Reuters) - India is willing to support the revival plan of grounded Kingfisher Airlines Ltd (KING.NS) if the company were to settle its employees' dues, a senior government source told reporters on Tuesday.
The statement came after Kingfisher Chief Executive Sanjay Aggarwal met officials at the ministry of civil aviation to discuss the revival plan, which was earlier rejected by the regulator.
Kingfisher, which lost its operating licence at the end of 2012 and has not flown since the start of October, is estimated to owe $2.5 billion in debt to banks, staff, vendors and others and is scrabbling to find new investors.
(Reporting by Anurag Kotoky; Editing by Prateek Chatterjee)
- Tweet this
- Share this
- Digg this
- Supreme Court makes gay sex illegal again
- Obama and Castro shake hands, Zuma humiliated at Mandela memorial
- UPDATE 3-GM to halt car production in Australia, industry in crisis
- REFILE-UPDATE 1-Obama says budget deal is good first step, urges Congress to act
- SEBI cracks down on new funds, asset managers chafe