Grounded Indian carrier Kingfisher Airlines has filed a revival plan with the country's airline regulator, a senior government official said on Tuesday, in an effort to renew its operating license before it expires at the end of the year. Kingfisher, which has not flown since October, has estimated debts of $2.5 billion and owes money to banks, airports, tax authorities, plane leasing companies, and its staff.
The Directorate General of Civil Aviation (DGCA), India's aviation regulator, which suspended Kingfisher's licence to fly after months of cancelled flights and staff walkouts, has demanded a turnaround plan before the airline is permitted to fly again. The DGCA wants all creditors to agree to the revival plan submitted by Kingfisher, and has not decided on its course of action, said the government official who has direct knowledge Of the matter, speaking on condition of anonymity.