Kingfisher submits new revival plans
Kingfisher Airlines has presented a new revival plan to Indian aviation authorities in a bid to restart operations.
Under the plans, its parent UB Group will invest 6.5bn rupees £77m) to help save the carrier.
Kingfisher ceased flying at the end of last year when its flying permit lapsed due to concerns about finances and safety.
The airline has reported annual losses for five consecutive years and, laden with $1.4bn in debt, it has been unable to secure fresh loans.
Authorities rejected an earlier revival plan submitted by the airline.
Kingfisher’s shares rose nearly 5% on the Bombay Stock Exchange after it announced the submittal of the new plans.
Bev
Editor in chief Bev Fearis has been a travel journalist for 25 years. She started her career at Travel Weekly, where she became deputy news editor, before joining Business Traveller as deputy editor and launching the magazine’s website. She has also written travel features, news and expert comment for the Guardian, Observer, Times, Telegraph, Boundless and other consumer titles and was named one of the top 50 UK travel journalists by the Press Gazette.
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