Cash-strapped Kingfisher Airlines has submitted a revival plan in a bid to renew its flying permit, a senior official of the Directorate General of Civil Aviation (DGCA) said on Monday.
?We are examining it,? said Arun Mishra, DGCA on Monday. ?The plan is a tentative one and does not give details on the date of restarting the operations.?
Mishra added that the Kingfisher will submit a definitive revival plan once ?approval? is given to the tentative revival plan. ?They have not mentioned about stake sale to any airline but they plan to restart operations in a limited manner and then scaling up,? said another senior official of the DGCA.
Further details about the revival plan were not available immediately. The plan was submitted on Monday by Kingfisher?s CEO Sanjay Agarwal, who met Mishra on Monday morning.
The airline?s scheduled operator permit for operating the airline expires on December 31. The airline had already submitted an application to renew its flying permit. Kingfisher Airlines declined to comment on the revival plan. The airline?s share soared 5% on the BSE after the news and ended the day at Rs 15.97.
Kingfisher?s flying permit was suspended temporarily on October 20 after a strike by its pilots and engineers over non-payment of salaries for over seven months. The strike left the complete fleet grounded since October 1. Before, Kingfisher can fly again, its pilots would need to undertake simulator training and undergo medical examinations. The whole process would take anywhere between three and four weeks after the airline gets the go-ahead from the DGCA to restart operations.
