Kingfisher Airlines wants government help to avoid disruption
Vijay Mallya is believed to have said that if help on these matters was not forthcoming, then it could adversely affect airlines's normal operations.
By PTI | Updated:
NEW DELHI: Burdened by debts and losses, Kingfisher Airlines sought government help on extending the time for repaying the banks and credit for its jet fuel requirements to avoid serious disruption of it operations.
Kingfisher promoter Vijay Mallya is understood to have written to Civil Aviation Minister Ajit Singh seeking help on these issues, saying the airline's lessors have moved court in the UK on alleged non-payment of lease rentals on aircraft.
Mallya is believed to have said that if help on these matters was not forthcoming, then it could adversely affect Kingfisher's normal operations.
While the UB Group chief has sought a 15-day credit from Hindustan Petroleum Corporation to meet its fuel requirements, it has also sought a temporary extension of time to repay the banks for its working capital loans.
He is understood to have indicated that since the aircraft lessors have gone to court, immediate payments have to be made to them to keep the fleet of the private airline flying. When contacted, a Kingfisher spokesperson today refused to comment on the matter.
In the recent weeks, Mallya, who is also a Rajya Sabha MP, has held a series of meetings with top government functionaries, including Finance Minister Pranab Mukherjee, to work out steps to keep the airline afloat.
Kingfisher has also come under flak from civil aviation regulator DGCA over safety issues following a financial surveillance. However, the airline has submitted its response to the DGCA saying it maintained the highest safety standards.
Kingfisher promoter Vijay Mallya is understood to have written to Civil Aviation Minister Ajit Singh seeking help on these issues, saying the airline's lessors have moved court in the UK on alleged non-payment of lease rentals on aircraft.
Mallya is believed to have said that if help on these matters was not forthcoming, then it could adversely affect Kingfisher's normal operations.
While the UB Group chief has sought a 15-day credit from Hindustan Petroleum Corporation to meet its fuel requirements, it has also sought a temporary extension of time to repay the banks for its working capital loans.
He is understood to have indicated that since the aircraft lessors have gone to court, immediate payments have to be made to them to keep the fleet of the private airline flying. When contacted, a Kingfisher spokesperson today refused to comment on the matter.
In the recent weeks, Mallya, who is also a Rajya Sabha MP, has held a series of meetings with top government functionaries, including Finance Minister Pranab Mukherjee, to work out steps to keep the airline afloat.
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Kingfisher has also come under flak from civil aviation regulator DGCA over safety issues following a financial surveillance. However, the airline has submitted its response to the DGCA saying it maintained the highest safety standards.
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