NEW DELHI India will not renew Kingfisher Airlines' (KING.NS) licence to fly if the ailing carrier fails to provide a turnaround plan by end-December, a top government official told reporters on Monday.
The airline has not come up with any revival plan as of now, the official, who declined to be named, said, adding that the airlines' licence is due to expire on December 31.
Kingfisher, once India's second-largest airline, has not flown since the start of October after an employee protest turned violent. The Directorate General of Civil Aviation (DGCA) suspended its licence last month, after Kingfisher failed to address its concerns over safety.
(Reporting by Anurag Kotoky; Editing by Jijo Jacob)
Trending On Reuters
Four state-run banks reported a spike in bad loans and provisions for sour debt on Tuesday after a clean-up exercise ordered by their regulator, sending three of them to net losses for the fiscal third quarter. Full Article