Rediffmail Money rediffGURUS BusinessEmail

Kingfisher gets "no objection" from oil cos, leasers

January 16, 2013 11:57 IST
By Anurag Kotoky

India's Kingfisher Airlines has been given a "no objection certificate" from oil companies and some aircraft leasing companies to restart operations, a senior regulatory source said on Wednesday.

Kingfisher shares extended gains to 6 percent on the news.

The airline, which lost its operating licence at the end of 2012 and has not flown since the start of October, has not secured approval from airports to fly again, the source at the Directorate General of Civil Aviation (DGCA)

said on condition of anonymity.

Kingfisher, which is estimated to owe $2.5 billion in debt to banks, staff, vendors and others, has submitted a $119 million revival plan to the regulators. An official at the DGCA said last week that the plan would not be sufficient to rescue the airline.

Anurag Kotoky in New Delhi
Source: REUTERS
© Copyright 2025 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

More News Coverage

Directorate General of Civil AviationKingfisherIndia

RELATED STORIES

WEB STORIES

International Museum Day: 11 Wonderful Indian Museums

Strawberry Honey Dessert: 5-Min Recipe

Recipe: Chicken With Olives And Lemon

VIDEOS

NewsBusinessMoviesSportsCricketGet AheadDiscussionLabsMyPageVideosCompany Email