India's Kingfisher airline boss promises restart, expressing confidence to win investment deal
Published on Jan 10, 2013 8:09 PM
MUMBAI (AFP) - The boss of India's troubled Kingfisher airline has sought to allay fears about jobs in a rare communication to staff, which outlines plans to restart limited operations and win a foreign investment deal.
Kingfisher, whose operations have been grounded since October, lost permission to fly after a deadline to renew its suspended licence with the aviation regulator expired at the start of the new year.
Mr Vijay Mallya's email, sent late Wednesday, expressed hopes for a limited re-start of flights from March this year, requiring funding of 6.5 billion rupees (S$146 million) which would be provided by the airline's parent UB Group.
The airline has submitted a detailed restart plan to the regulator, he said, also reiterating that there were "discussions with multiple investors", including Abu Dhabi-based Etihad Airways, to sell a stake in the airline.
To continue reading, log in if you are a subscriber
If you are not a subscriber, you can get instant, unlimited access here