Chances of Kingfisher restarting operations seem distant

Chances of Kingfisher restarting operations seem distantThe chances of grounded carrier Kingfisher restarting operations seem distant as various stakeholders are insisting that their dues be cleared before the beleaguered carrier is permitted to fly again.

A person familiar with the matter said that there had been no talks between the Airports Authority of India (AAI) and Kingfisher; and that AAI had dropped strong hint that would not like to put the carrier on cash & carry basis.

Speaking on the topic, the person said, "With AAI not only operating airports around the country but also managing Air Traffic Management and Communication Navigation Surveillance, the possibility of Kingfisher restarting operations seem remote."

The report emerged nearly as week after Kingfisher CEO Sanjay Agarwal met civil aviation regulator DGCA officials and submitted a fresh plan to restart the carrier.

As per the proposed plan, UB Group will pump in Rs 650 crore in Kingfisher over a period of ten months to help it restart operations.

But, stakeholders are in no mood to allow Kingfisher to fly again until it clears their dues. The grounded carrier owes Rs 350 crore to AAI, and more than Rs 7,000 crore to a consortium of 17 banks led by the State Bank of India.