Kingfisher Airlines responded to the queries put forward by the Directorate General of Civil Aviation ( DGCA). In its response, the struggling carrier said that it is expected to raise necessary funds latest by March, as per media reports.
Kingfisher has assured DGCA that they are in dialogue with lenders to provide additional working capital loans and lenders have responded favorably and is committed to support the airline.
The report also says that SBI, which is making the long-term viability report has completed it and funding is expected latest by March 31. They have also said that the UB Group has so far helped Kingfisher Airlines and about Rs. 1000 crore have already gone in 2011.
For fleet recovery very importantly the company has said that five airbus will start coming in from April 15 and till end of the June and the rest 12 should be complete by October 30.
On the troubled salary situation, Kingfisher clarified to DGCA that 60 % of its employees have been paid for November and that 40% of the employees will be paid by January 15. The airline is confident that all salaries will be paid by the end of the month.
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Kingfisher has assured DGCA that they are in dialogue with lenders to provide additional working capital loans and lenders have responded favorably and is committed to support the airline.
The report also says that SBI, which is making the long-term viability report has completed it and funding is expected latest by March 31. They have also said that the UB Group has so far helped Kingfisher Airlines and about Rs. 1000 crore have already gone in 2011.
For fleet recovery very importantly the company has said that five airbus will start coming in from April 15 and till end of the June and the rest 12 should be complete by October 30.
On the troubled salary situation, Kingfisher clarified to DGCA that 60 % of its employees have been paid for November and that 40% of the employees will be paid by January 15. The airline is confident that all salaries will be paid by the end of the month.
....more info