Kingfisher Airlines gets NOC from oil companies, leasers to restart operations

16 Jan 2013

In a bit of relief, beleaguered Kingfisher Airlines has been given a ‘no objection certificate’ (NOC) from oil companies and some aircraft leasing companies to restart operations. Meanwhile, the airline, which lost its operating licence at the end of 2012, has been grounded since the start of October and up till now has not secured approval from airports to fly again.

Kingfisher, which owes a debt of $2.5 billion to banks, staff, vendors and others, has submitted a $119 million revival plan with the Directorate General of Civil Aviation (DGCA) on December 24, 2012, which failed to specify when the airline will restart operations.

However, recently, the employees, in Delhi, sought closure of the cash-strapped carrier by initiating legal proceedings against the company. Employees of debt laden carrier have demanded clearing of salary dues by selling company’s assets.

Related Kingfisher Airlines Ltd. Links:
1 Year Price Chart
Peers
Company Name CMP
Interglobe Aviation 1623.15
Jet Airways (I) 135.50
Hindustan Aeron 1087.40
Spice Jet 82.70
Global Vectra Helico 46.45
View more..
Sensex vs Kingfisher Airlines
Puchho Befikar
SEBI Registered: Investment Adviser - INA000013323

Callback