Will DGCA renew Kingfisher Airlines' licence?

Today is the last day for Kingfisher Airlines to renew its flying permit, but with the aviation regulator Director General of Civil Aviation (DGCA) refusing to consider its renewal application unless there is more clarity on funding, KFA's license looks set to expire today. Sumit Jha of CNBC-TV18 gives the details.

Also read: 'Kingfisher licence to be renewed if revival plan okayed'
 
The Director General of Civil Aviation (DGCA) said that the license will definitely expire today as they wanted a revival plan to even consider the renewal application. Although the airlines submitted its revival plan, according to sources the DGCA has said, that the revival plan looked very half baked and they needed more information on it.
However, the catch here is that according to DGCA rules, an expired or lapsed license can be revived within two years of its expiry date. Apart from that, even on Saturday DGCA had summoned one of the Kingfisher officials. Hitesh Patel, Vice President of Kingfisher Airline met DGCA and DGCA sources have told that he was asked to first go and get some written assurance, something solid from UB Group which they claim would be refunding their remitted restart of operations and then come back to DGCA.
Other than that, they also asked the airline to convince their stake holders. They owe a substantial amount of money to different stake holders including Airports Authority of India, income tax department and even the banks. So, KFA first needs to go and convince them about the revival plan and then the DGCA will take up their case or do something about the revival plan.