Kingfisher Airlines bosses fight to save debt-laden co Only 28 of airline’s 64 strong fleet operational NEW DELHI, Feb 21, (AFP): India’s Kingfisher Airlines was struggling to avoid closure on Tuesday as regulators ordered it to prove its operational viability after mass cancellations of flights.
Scores of national and international flights have been scrapped over the past three days, leaving passengers stranded at airports and airline bosses fighting to save the debt-laden company.
Kingfisher executives were summoned before the Directorate General of Civil Aviation (DGCA) over the cancellations, which the firm blamed on tax officials suddenly freezing its bank accounts.
Bharat Bhushan, head of the DGCA, told reporters after the meeting in New Delhi that only 28 of Kingfisher’s fleet of 64 registered aircraft were in operation.
“We have directed Kingfisher to come up with a revised schedule with these aircraft, we have given them until tomorrow,” he said.
“To ground an airline of Kingfisher’s size... would cost more difficulties to the passengers so we have to take a balanced approach,” he added.
Shares in the Bangalore-based airline fell nearly 20 percent in the morning before climbing back to a seven-percent drop at lunchtime as investors exited.
Bhushan said Kingfisher had been ordered to provide better information to passengers over the cancellations after complaints from travellers across India, and added that the airline’s safety standards would be scrutinised.
“We have ordered special safety surveillance on the aircraft,” he said. “I don’t want to give the impression that these aircraft are unsafe in any way but it is better to be cautious.”
Emerging from the regulators’ headquarters, Kingfisher chief executive Sanjay Agarwal said: “We have had a good meeting. Some more information has been sought by DGCA which will be provided in the next
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