Mallya updates staff on Kingfisher revival

Last Updated: Thu, Jan 10, 2013 15:55 hrs

Liquor baron and Kingfisher Airlines chairman Vijay Mallya on Thursday wrote to the airline employees and said the management was trying to take all the steps to re-start operations of the grounded private carrier.

"We have submitted a detailed restart plan to the DGCA which is in two parts. The first part deals with a limited re-start utilising 7 aircraft ramping up to 21 aircraft in 4 months. The second part is a full scale rehabilitation of our Airline growing to 57 aircraft within 12 months of recapitalization," Mallya told his employees in his letter.

"Both plans contain detailed information on key assumptions and funding requirements including payment of outstanding salaries to employees," he said.

Speaking on funding, he Mallya said: "The limited re-start plan which we target for the beginning of the 2013 summer schedule requires funding of approximately Rs. 650 crores which is committed to be provided by The UB Group and associates."

He urged the employees to be ´careful´ while interacting with the media.

"The media has continued their negative reporting on Kingfisher. I would urge each one of you to be particularly careful in any interaction you may have with them. Unfortunately, considerable management time is spent correcting or clarifying media reports than in transactional discussions," Mallya said.

Pertinently, the troubled private carrier lost operating licence last year.

The employees of the private carrier on Wednesday warned the management that they would file a winding-up petition in the court under the Company´s Act if they do not get all their pending salaries.

Kingfisher Airlines has neither been able to pay salaries regularly since February last year nor has it managed to pay its dues to oil companies and airports, media reports said.

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