Cash-strapped Kingfisher Airlines, which has massively pruned its operations, on Wednesday submitted a fresh flight schedule to the Directorate General of Civil Aviation.
The DGCA has estimated Kingfisher should be able to run 175 flights daily, but chances of that appear slim. The airline’s bank accounts, frozen by the income tax department over statutory dues, remain attached.
DGCA chief EK Bharat Bhushan submitted a report on Kingfisher’s operations to the civil aviation ministry and briefed minister Ajit Singh.
“The government won’t bail it out. We hope Kingfisher can mobilise resources because if it can’t, there will be more problems for fliers,” Singh said, rejecting comparisons with Air India.
“I am sure Mr (Vijay) Mallya knows Air India is a government concern. Whatever help we give them, we can’t to any private company.”
Singh said if banks were satisfied with Kingfisher’s business plan, they could lend it money. The State Bank of India’s shares plunged 7.91% to close at Rs 2,257 on reports that it had decided to offer Kingfisher fresh credit.
Kingfisher chairman Mallya welcomed the DGCA’s daily audits. “We welcome the opportunity to prove our aircraft are entirely safe,” he tweeted.