Kingfisher crisis: Cancellations continue, deadline for revised schedule ends ... - NDTV

[Aviator]

Kingfisher crisis: Cancellations continue, deadline for revised schedule ends ... - NDTV

New Delhi:  The 24-hour deadline set by aviation regulator, the Directorate General of Civil Aviation (DGCA), for Kingfisher Airlines to come up with a realistic flight schedule ends today.

And in what may come as good news to the crisis-hit airline,
prominent banks that have lent to the airline have reportedly decided to
provide a relief package to it, sources said. NDTV has learnt that the State Bank of India will provide Rs 1200 crore
relief package to Kingfisher out of which nearly Rs 700 crore will be
provided in working capital loans.

Meanwhile, the chief of the DGCA, E K Bharat Bhushan, met Mr Singh over the Kingfisher crisis. The
minister said Mr Bhushan apprised him about the latest situation. The carrier scrapped 20 more flights today.

The DGCA held a meeting with the Kingfisher Airlines CEO Sanjay Aggarwal yesterday where it gave a stern message to the airline that it can't compromise on safety as it pulled up the beleaguered airline today following large-scale flight disruptions. The aviation regulator, however, ruled out any immediate punitive action to avert further difficulties to air travellers.

The DGCA also categorically told the ailing airline that cutting costs did not translate into playing around with the safety of the passengers. The stiff warning came after the private carrier cancelled a large number of flights over the weekend that has spilled onto the new week. It also witnessed resignations of at least 34 pilots on Tuesday, with several other staff members being put on notice. The airline, though, assured the DGCA that it had enough


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