Kingfisher, which lost its operating licence at the end of 2012 and has not flown since the start of October, is estimated to owe $2.5 billion in debt to banks, staff, vendors and others and is scrabbling to find new investors.
The revival plan, which Kingfisher Chairman Vijay Mallya filed last month with the Directorate General of Civil Aviation, may not guarantee a reliable service, a senior official at the regulator with direct knowledge of the plan said in a briefing to journalists on Friday.
"There are a lot of issues regarding lenders, staff payment which we felt may not lead to reliable services.
"The plan has
(Writing and additional reporting by Henry Foy in Mumbai; Editing by Jeremy Laurence)
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