The airline, sources said, has informed the regulator that it would need R652 crore over the next 12 months for running operations and these funds would come from the UB Group's resources as banks are not willing to provide fresh loans.
Of the Rs. 652 crore, Rs. 120 crore would be needed to meet salary arrears for its employees.
The airline, which hasn't paid employees for last seven months, has informed the DGCA that it would give two months' salary to employees and give back wages each month from next month onwards.
The DGCA is unlikely to take any decision in a hurry. The regulator, sources said, will examine the proposal and call a meeting of all stakeholders.
"The airline has faltered on earlier promises and we don't want a situation where it restarts operation and it unable to carry on," a DGCA official said.