Kingfisher to submit recovery plan to DGCA

Victoria
By Victoria March 19, 2012 16:26

Kingfisher to submit recovery plan to DGCA

Kingfisher Airlines will submit a recovery plan to the Indian Director General of Civil Aviation (DCCA) this week to enable it to continue flying.

Reports stated that the plan will include further cuts to international operations, the cessation of all loss-making routes, the renegotiation of aircraft lease rentals, moving to secure foreign loans for working capital, and getting back its $40 million deposit from the International Air Transport Association (IATA). The airline also plans to pays salaries in a phased manner to employees who have not been paid since December 2011.

Victoria
By Victoria March 19, 2012 16:26
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