KF lacks funding plan: Ajit

New Delhi: Gro-unded carrier Kingfisher Airlines has failed to present regulators with a clear funding plan under a proposal to get it flying again, civil aviation minister Ajit Singh said on Wednesday.

The airline, owned by liquor tycoon Vijay Mallya and suspended in October over unpaid debts and salaries, submitted a plan on Monday to aviation regulator Directorate General of Civil Aviation (DGCA) to resume a limited service.

Though Kingfisher’s pa-rent company UB Group offered to inject Rs 650 crore into the carrier — a key condition for getting it airborne again, the minister denied King-fisher having provided any funding plans.

But Mr Singh told reporters on Wednesday that UB “did not say they are going to give anything” to Kingfisher.

He did not specify if the proposal, to resume operations with five planes, had been rejected. But he noted that the airline owed money to banks, staff, airports, and tax authorities. “All those stakeholders needed to be convinced the relaunch plan was viable before the DGCA allowed the airline to fly again,” Mr Singh said

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