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)
Trending On Reuters
India's parliament began debating the goods and service tax (GST) on Friday that seeks to transform the country into a common market, but experts said compromises made to enlist the support of states risked diluting the impact of the biggest tax reform in decades. Article
India to host Afghan leader, seeks to regain ground lost to China, Pakistan Full Article