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.