Kingfisher revival plan has no clear funding proposal

26 Dec, 2012

 

Kingfisher, which has not flown since October, has estimated debts of $2.5 billion and owes money to banks, airports, tax authorities, plane leasing companies and its staff.

 

"That is Mr. Mallya's wish to start, but UB (group) did not say they are going to give anything," Aviation Minister Ajit Singh told reporters, referring to the airline's chairman, Vijay Mallya, and its parent company.

 

"There has to be a concrete plan."

 

Copyright Reuters, 2012

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