Mallya’s Kingfisher carrier gets 4 week’s time for submitting revival plan

Mallya’s Kingfisher carrier gets 4 week’s time for submitting revival planLiquor baron and Chairman of United Breweries Holdings Ltd (UBHL) Vijay Mallya's beleaguered carrier Kingfisher Airlines Ltd on Tuesday got four week's time from the Karnataka High Court for submitting a concrete plan to revive the carrier.

During the hearing on batch of company petitions seeking beginning of winding up proceedings, Kingfisher's lawyer managed to get the time after he claimed that the company had received some good proposals and that it was preparing a plan to revive the carrier by having discussions with investors.

The lawyer also tabled some documents related to the company's revival plan before Justice S Abdul Nazeer, who than advised the company's employees and lenders to wait for four more weeks.

Before adjourning the hearing, Justice Nazeer said, "Wait.  You may get some good news.  Any way you have waited for so long.  You can wait for four more weeks."

Kingfisher employees are seeking for a court's direction to settle their salary dues.  They claim that they haven't received salaries for around a year.  Some companies are also seeking recovery of dues from the grounded airline.