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Kingfisher revival: approval from AAI, creditors not sought

Grounded Kingfisher Airlines did not even bother to get in touch with the Airports Authority of India (AAI) let alone get a No-Objection Certificate (NoC) from the state-owned airport operator to whom it owes close to Rs 300 crore. HT reports.

Updated on: Apr 11, 2013 09:55 PM IST
Hindustan Times | By , New Delhi
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Grounded Kingfisher Airlines, which submitted a fresh revival plan to aviation regulator, the Directorate General of Civil Aviation, did not even bother to get in touch with the Airports Authority of India (AAI) let alone get a No-Objection Certificate (NoC) from the state-owned airport operator to whom it owes close to Rs 300 crore.

HT Image
HT Image

Meanwhile, Kingfisher chairman Vijay Mallya met finance minister P Chidambaram on Wednesday.

The regulator and the aviation ministry had made it clear to the airline when it had submitted its first revival plan in December last year that it needs to get NoCs from all stakeholders before its request to restart operations would be considered, said sources.

"The airline needs to obtain statements from creditors, including banks, airport operators and employees that they do not object to resumption of flights," aviation minister Ajit Singh had said on January 22. Singh had said that settlement of AAI's dues was "non-negotiable".

"We were hoping that this they would come prepared but they have failed to get NoC's from AAI, tax authorities and banks," a source said.

Kingfisher did not offer comments for the story.

 
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