Sanjay Aggarwal, the CEO of the troubled Kingfisher Airlines has affirmed that the company is till viable and will continue to do business.

The comments come after reports suggested that the cash-strapped airline might file for bankruptcy. The airline is believed to be unable to raise money from the capital or debt market and it is becoming increasing difficult for the company to pay for fuel for its flights.

Company staff has been dwindling as employees had lost faith in the airlines future. The airline had delayed making salary payments for August and September upsetting many employees and making them think about leaving their jobs.

Kingfisher is also facing severe fuel shortages as it has been available to pay its fuel bills. Hindustan Petroleum had suspended fuel supply to the airline causing disruptions as the airline was not able to pay a bill of Rs 130 crore.

"As a matter of fact, UB group has continued to support us all along over the course of the year, so there is no question about the future or the viability of the airline," said CEO Sanjay Aggarwal.

Meanwhile, the airline cancelled 12 flights from Delhi and others cities in India. It cancelled flights to Jaipur, Bangalore, Amritsar, Mumbai, Chennai, Hyderabad, Pantnagar and Bagdogra.

According to a new report by Mint, the airline is planning to cancel 31 flights every day for the next 12 days till November 19.

The repot also said that about a dozen Kingfisher's aircraft are out of service due to maintenance issues. The airline has decided to cancel 27 domestic flights on routes covering the cities of Delhi, Mumbai, Bangalore, Chennai, Hyderabad, Kolkata and Kochi, besides four international flights to Bangkok in Thailand.