Debt-laden Kingfisher Airlines’ operating license lapsed on 31st December 2012 and it has to submit a concrete action plan to get its flying license renewed. The Directorate General of Civil Aviation (DGCA) suspended airlines operating license on October 20 and asked to submit a concrete and viable revival plan ensuring safe, reliable, efficient and sustainable operations. As per the DGCA regulations Kingfisher can renew its license within two years.
The entity has submitted a revival plan recently, which includes an over Rs 650-crore capital infusion from the parent UB Group over the next 12 months but DGCA replied to the airline seeking more details of the revival plan including an assurance that the funds will be forthcoming from the UB Group. In addition, Kingfisher was asked to consult with various stakeholders who have requested the DGCA not to allow the airline to restart operations till their dues are cleared.
