Kingfisher revival plan lacks clear funding proposal
Kingfisher, which has not flown since October, has estimated debts of $2.5 billion.
New Delhi: A revival plan submitted to the aviation regulator by grounded carrier Kingfisher is not backed by a clear funding proposal, the aviation minister said on December 26.
Kingfisher, which has not flown since October, has estimated debts of $2.5 billion and owes money to banks, airports, tax authorities, plane leasing companies and its staff.
"That is Mallya's wish to start, but UB (group) did not say they are going to give anything," Aviation Minister Ajit Singh told reporters, referring to the airline's chairman, Vijay Mallya, and its parent company. "There has to be a concrete plan."
Recommended For You
- OnePlus 5 to Launch in April: All You Need to Know of the Waterproof Phone
- WhatsApp Status Update: How to Use it And All You Need to Know
- News18 Movie Awards 2017: Alia Is Ahead of Sonam in Best Actress Category
- Fitness Freak Jacqueline Fernandez Loves Trying Different Workout Routines
- MINI Cooper D (5-Door) Review: A Classic That Encapsulates Modern Technology