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Kingfisher submits plan to regulator to restart airline: CEO

Source : REUTERS
Last Updated: Wed, Apr 10, 2013 12:09 hrs
A Kingfisher Airlines aeroplane sits on the tarmac at Chhatrapathi Shivaji International Airport in Mumbai

India's grounded Kingfisher Airlines has submitted a plan to the country's aviation regulator to restart operations, asking for its licence to be renewed with the help of funds from its parent UB Group, its Chief Executive said on Wednesday.

"We have given a complete plan ... which includes our schedule that we plan to operate, the aircraft we plan to operate, the number of people we have," Sanjay Aggarwal told reporters in the Indian capital.

"We have requested that our licence be renewed," he said, adding that the carrier plans to start operations with seven planes.

Kingfisher, controlled by liquor baron Vijay Mallya, who also owns UB Group, has been halted due to a cash crunch, and lenders are trying to recover $1.4 billion of loans in default.




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