Etihad seeks clarity on KFA's interim revival plan
Etihad has been meeting Jet officials and last two days were spend in discussing the contours of a likely deal with Kingfisher Airlines, but the talks were pretty much inconclusive, reports CNBC-TV18‘s Kritka Saxena.
December 21, 2012 / 18:46 IST
Etihad has been meeting Jet officials and last two days were spend in discussing the contours of a likely deal with Kingfisher Airlines, but the talks were pretty much inconclusive, reports CNBC-TV18’s Kritka Saxena.
Also read: Kingfisher must satisfy DGCA before Dec 31: Ajit SinghKingfisher Airlines met SBI officials and other lenders earlier this week. No definite plan was submitted. It is learnt that Kingfisher Airlines has submitted an interim revival plan. It does not really have any details as to how they will bring the airline back on track or what they will do about clearing out the suspension issue with the Directorate General of Civil Aviation (DGCA). It is very inconclusive. Hence Etihad has asked for a detail revival plan. The revival plan could be submitted with in the next 2-3 weeks or ten days approximately. However, they are expecting to pay employees around January 2013. They will be coughing up amount from the UB Group and putting into the airlines.They are expecting to start the operations partially. It was the same thing that was presented to lenders. There is no major development. Etihad board will now take a call on what they need to do and if they even need to wait for a definite plan by Kingfisher Airlines. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
