The latest business news reveals that the Kingfisher Airlines [KFA] seems to be in trouble once again.
The respected Civil Aviation Minister Ajit Singh has recently said in a press that the Kingfisher Airline has not adhered to plans crucial for its workings. The minister further said that the central government may cancel KFA’s license.
Bharat Bhushan, The Directorate General of Civil Aviation added that inspite of number of warnings on different fronts; the kingfisher airline has not been able to make all the required corrections.
He said, “The situation cannot continue like this.” He said tha statement while talking with NDTV correspondent.
Further, Bharat Bhushan also emphasized that Kingfisher workers including pilots have not been given salaries for several months.
In a statement issued by DGCA, It is said that flights are being cancelled without informing the aviation industry regulator. Bharat Bhushan said, “Our team is auditing the airline almost every day to ensure safety is not being compromised.”
The proud owner of Kingfisher, Vijay Mallya is expected to meet with DGCA director Bharat Bhushan today. The DGCA has the power to suspend or cancel the kingfisher airlines license, and is finalizing its report on Kingfisher this week.
In the meantime, Kingfisher Airlines [KFA], which has a debt of $1.3 billion, is going through a tough period as banks re not ready to lend more for day-to-day operations.
Huge cutbackin flights have also affected the earning of airlines as well, leaving the carrier with little cash to pay its employees, airports and tax authorities.