Kingfisher Airlines Ltd promoter Vijay Mallya met the aviation regulator on Friday and assured it that the airline plans to submit a revival plan before the end of the month and was in talks with investors, and airport operators and oil companies to which it owes money.
Mallya’s meeting with director general of civil aviation Arun Mishra follows a meeting with aviation secretary K.N. Srivastava two weeks ago.
“We will have to study the revival plan once they submit it, then we will examine and take a final view,” Mishra said, adding the regulator will audit the airline before allowing it to fly.
The directorate general of civil aviation (DGCA) suspended the airline’s licence in October on grounds that it could not provide safe and reliable flights to consumers, after labour unrest and financial troubles.
“It’s a long process,” Mishra said, referring to pilot and plane checks that will be needed before the airline’s suspended licence is reinstated.
A person familiar with the matter said Mallya would try to announce the name of an investor before the 31 December deadline for the expiry of the suspended licence. The person didn’t want to be named.
Lenders led by State Bank of India want Mallya to infuse capital into the airline only after which will they put in their own money. The lenders were expected to hold a key meeting with Kingfisher on 8 December but the meeting has now been postponed to 17 December, the eve of Mallya’s birthday.
Kingfisher Airlines has not paid bankers since January.
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