Aviation Min rules out Kingfisher bailout, DGCA summons CEO - Zee News

[Aviator]

Aviation Min rules out Kingfisher bailout, DGCA summons CEO - Zee News

<!-- Para=1 --><!--Para1Text-->Zeebiz Bureau

New Delhi: In a major setback to the Kingfisher Airlines, the Directorate General of Civil Aviation (DGCA) has summoned its CEO Sanjay Aggarwal, as the airline continues to cancel flights for the third consecutive day.

Clearing the air of speculation of a bailout package for the beleaguered airline, Civil Aviation Minister Ajit Singh said “It is upto the banks to decide on providing loans to Kingfisher.” He asserted that it is not the government’s job to bail Kingfisher out of the trouble zone.

He said the government is not going to provide any revival package to the private airlines at the moment.

However, he said that a panel led by the Civil Aviation Ministry is looking into the matter whether any assistance should be provided to the private airlines or not in the long term.

He said “We are looking into things with a long term prospect.”

The panel will submit its report to the Finance Ministry, which will take the final course of action with regard to revival package for Kingfisher and other airlines as well.

The domestic aviation sector which currently is battling against high ATF prices is in doldrums as the margins continue to slide.

Today, KFA cancelled 27 flights across the country, leaving the passengers in lurch.

It has cancelled 12 outgoing flights from Mumbai and four from Delhi early this morning.

The fresh cancellations come a day after almost half of its flights from major metros were cancelled or delayed on Saturday.

Yesterday, Kingfisher, had suspended its operations in Kolkata and also cancelled 16 flights from Mumbai.

However, a statement issued by the airline on Saturday said there have been flight disruptions since Friday which will continue for four days due to unexpected events including bird strikes.

All these cancellations come amidst reports that the airline is


http://news.google.com/news/url?sa=t&fd=...42394.html