KFA needs go-ahead from all stakeholders to fly again: Ajit Singh

Kingfisher Airlines needs at least Rs 1,000 crore to restart operations, aviation minister Ajit Singh said today, adding that the airline has still not submitted any concrete funding plans.

All stakeholders will have to give no-objection certificates for the carrier to fly again, he said, which includes lenders, vendor, Airport Authority of India and its employees.

He, however, reiterated that by simply paying the employee salary and clearing its dues is not enough to resume operations.

“Don’t think paying employees alone can help KFA fly,” Singh said adding bankers’ go-ahead is necessary for the airline’s revival.

Meanwhile, according to a CNBC-TV18 report, the Airport Authority of India has given the go-ahead for airports to give away Kingfisher slots as per demand.

AAI sources told the channel Kingfisher cannot fly without the settlement of all its dues. “We will need a written directive from Ministry to give Kingfisher more time on dues,” they said.

Kingfisher, which lost its operating licence at the end of 2012 and has not flown since the start of October, is estimated to owe $2.5 billion in debt to banks, staff, vendors and others and is scrabbling to find new investors.