A Kingfisher Airlines aircraft is seen parked at the airport in New Delhi April 19, 2013. Indian airports have claimed international law must take a back seat to local courts in a row with foreign aircraft leasing firms over the future of grounded Kingfisher Airlines jets, according to government minutes seen by Reuters. To match Exclusive INDIA-KINGFISHER/JETS.
New Delhi: The lead banker to Kingfisher Airlines, SBI today said it is taking all steps to recover the loan provided to the grounded carrier. We are blazing all guns and taking all steps to recovery (of Kingfisher loans), SBI Chairman Pratip Chaudhuri said here after the meeting of the Finance Minister with the heads of PSU banks and financial institutions.
There is a core group. They are assessing what are securities what can be disposed of quickly then they are put on auction... That is how it goes, he said. Earlier in the day, Finance Minister P Chidambaram asked the banks to take firm steps to recover loans saying that the country cannot afford to have affluent promoters and sick companies.
New Delhi: Kingfisher Airlines' chairman Vijay Mallya obviously believes in the 'never say die' principle. His airline has not flown for over five months, lessors are repossessing aircraft, banks are recalling loans, employee salary arrears are mounting but the flamboyant Mallya still talks of resuming flights.
In a communication to aviation regulator DGCA, dated March 8, the airline's CEO Sanjay Agarwal has requested that Kingfisher's slots at various airports be retained since the airline will soon apply for a flying permit. The airline's flying permit had lapsed on December 31.
Mumbai: Aviation regulator DGCA wants grounded Kingfisher Airlines to clear all dues, including pending salaries of employees, before taking up for consideration its application for renewal of flying licence.
The airline (KFA) has been promising to pay salary dues to its employees since the last six months, but has not done so. Moreover, the renewal of Kingfisher Airlines' air operator permit (AOP) is not only linked to the unpaid staff wages, but also to the massive dues towards its vendors and lessors, DGCA sources said here.
So we have to take into consideration all these dues before accepting the airline's application for licence renewal, they said, adding the airline needs to come up with a credible revival plan, which should include commitment to clear dues of all stakeholders.
New Delhi: The Supreme Court today rejected Kingfisher Airlines' plea against the Karnataka High Court's order directing it to deposit around Rs 185 crore with the Income Tax Department as TDS from its employees' wages.
The apex court, which had asked the cash-strapped airlines to deposit the money within four weeks, refused to extend the time limit as sought by the Kingfisher's counsel. The bench headed by Justice R M Lodha rejected the airline's plea to give three more weeks.
New Delhi: Kingfisher Airlines chief Vijay Mallya today met Finance Minister P Chidambaram after which he said he discussed the issue of Rs 800-crore outstanding subsidy for his group company Mangalore Chemicals and Fertilisers.
When asked by reporters whether he would like to assure the airline lenders, who had decided to start process to recover over Rs 7,500 crore dues, Why should I give them (lenders) assurances through you (media).
