New Delhi, Jan. 10:
Kingfissher Airlines plans to start limited operations by the beginning
of the 2013 summer schedule with seven aircraft. It also plans to ramp up to 21
aircraft in four months, airline promoter, Vijay Mallya, told agitating employees.
Globally, the summer schedule of airlines starts from March and extends till
October.
In a communication to employees, Mallya said that starting with seven
aircraft was the first of a two-part re-start plan submitted to the Directorate
General of Civil Aviation.
“The second part is a full scale rehabilitation of our airline growing
to 57 aircraft within 12 months of recapitalisation. Both plans contain
detailed information on key assumptions and funding requirements, including
payment of outstanding salaries to employees,” Mallya said.
The letter adds that the limited re-start plan requires Rs 650 crore
“which is committed to be provided by the UB Group and associates.”
The letter comes less than 24 hours after Kingfisher employees, who have
not been paid salaries for eight months, sought a detailed plan for re-starting
the airline.
The airline suspended operations on October 1 last year, and its
operating licence expired on December 31, 2012.
Mallya added that the airline was meeting the consortium of banks that
had lent it funds and keeping them fully informed. “They have requested our
urgent attention to certain overdues, which we are addressing with them.
“The banks have been very co-operative and patient. There has been no
discussion at all on recall of loans, enforcement of securities. On the
contrary, the banks have expressed their keen desire to see Kingfisher fly
again,” the letter stated.
Mallya added that the airline had been in discussions with prospective
strategic as well as financial investors for over a year. “Investors need to be
convinced about the long-term prospects of their proposed investment in
Kingfisher and this takes time.
“Please be rest assured that we are in discussion with multiple
investors and remain confident that we will secure a deal,” he added.
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