India's Kingfisher to arrange own funds to restart airline
NEW DELHI (REUTERS) - Kingfisher Airlines, which agreed this week to pay overdue salaries to its staff, will source funding from its own resources to get the grounded carrier flying, India's aviation regulator said today.
The Director General of Civil Aviation has asked the debt-ridden airline to prepare and submit its winter schedule, the regulator said in a statement.
"The (Kingfisher) CEO further informed that at present, the source of funding for the airline will be through their own resources," the DGCA said.
Kingfisher Airlines, owned by liquor-baron Vijay Mallya has not flown since the beginning of this month, after an employee protest turned violent, and India's civil aviation regulator on Saturday suspended the carrier's licence over safety concerns.