Kingfisher Airlines seeks funds from UB Group

Victoria
By Victoria November 19, 2012 15:40

Kingfisher Airlines seeks funds from UB Group

The UB Group, the promoter of Kingfisher Airlines, will infuse fresh funds into its grounded carrier from its own coffers and through a strategic international investor, according to press reports citing a source familiar with the matter.

The airline, which needs to submit a restructuring plan to the Directorate General of Civil Aviation to resume operations by December with a minimum five planes, is also meeting with its group of 17 this week to discuss their options.

“Kingfisher Airlines has informed that it is working on a comprehensive plan for revival,” said Arun Mishra, the director general of civil aviation, adding that there is no deadline for submitting a revival plan.

Victoria
By Victoria November 19, 2012 15:40
No Comments Yet!

Let me tell You a sad story ! There are no comments yet, but You can be first one to comment this article.

Write a comment

Only <a href="http://www.aviationnews-online.com/wp-login.php?redirect_to=http%3A%2F%2Fwww.aviationnews-online.com%2Fairline%2Fkingfisher-airlines-seeks-funds-from-ub-group%2F"> registered </a> users can comment.