I have been sadly waiting for this moment for some time. Kingfisher Airlines has had its scheduled Operator Permit suspended by India’s aviation regulator: The Directorate General of Civil Aviation (DGCA) The authority stated that Kingfisher Airlines had failed to come up with a viable plan for its financial and operational revival and had not resolved the impasse with employees over non payment of salaries. News Report here. (Photo from Reuters Media) The airline has been tasked on October 5 to show cause as to why licence should not be suspended on October 20. Kingfisher asked for more time yesterday and said…
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Kingfisher D day closer?
In the airline world, Kingfisher Airlines faces a meeting with its bankers – 17 banks have over 70 billion rupees ($US 1.26 billion) in advances to the carrier. The carrier has not serviced this debt since January, 2012. Kingfisher airlines also has an accumulated loss of over Rs. 80 billion rupees ($US1.4 billion). Since its launch in May 2005, the airline has never made profit. It has not been paying salaries consistently for a year now. The result has been a series of rolling strikes by staff for payment of wages. Last week, the Centre for Asia Pacific Aviation (CAPA), said Kingfisher must…
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