Defunct Kingfisher Airlines"s Air Operator Permit expiring on December 31, All doors are finally going to be shut on the now
Defunct Kingfisher Airlines"s Air Operator Permit expiring on December 31, All doors are finally going to be shut on the now
KINGFISHER AirLINES' FlyING PERMIT TO EXPIRE ON DECEMBER 31, ALL DOORS ARE FINALLY GOING TO BE SHUT
With its two-year term to renew the Air Operator Permit expiring on December 31, all doors are finally going to be shut on the now defunct Kingfisher Airlines.
The Dr Vijay Mallya promoted full service carrier has been grounded since October 2013, having lost its Flying license on December 31, 2013 following refusal by the Civil Aviation regulator, Directorate General of Civil Aviation (DGCA), to renew it after the Airline management fairled to come up with a “satisfactory” plan of operations.
The Airline, however, was given a two-year time limit to get its licence renewed, which expires on December 31, 2014. “Kingfisher Airlines’ AOP will finally lapse on December 31, which means the company will have to apply afresh for Flying permit, if it wants to Fly agAirn,” a senior DGCA official .
Securing a fresh AOP involves a number of regulatory approvals from DGCA, no-objection certificates from civil aviation and other ministries, security clearances for the top management team of the proposed Airline from home ministry as well as comments and suggestions from various stake holders.
It is a co-incidence that Kingfisher Airlines’ AOP will lapse in the same month when Tata Group and Singapore Airline’s joint venture, Vistara, a full service carrier, secured its scheduled operator permit.
According to sources, Kingfisher still has 2,000 employees on its roll, including former staffers who quit the Airline during this period, who have not got their salaries since September 2012.
SBI held back Rs 7.5 cr to United Bank : Airline to HC Kingfisher Airlines (Kingfisher Airlines ) has told the Calcutta High Court, in the course of hearings on the wilful defaulter case, that State Bank of India (SBI) held back Rs 7.5 crore to United Bank of India. However, the court pointed out that SBI had informed Kingfisher that the balance in its account was not sufficient for the requested transfer of funds.
Kingfisher Airlines owes about Rs 10,000 crore to a consortium of 16 Banks.
Arguing on behalf of Kingfisher Airlines , senior advocate S Pal told the court that SBI, which was operating the trust retention account, did not forward INR 8 Crore to United Bank of India as repayments from the Airline.
The intended repayment was for an overdraft granted to the company by the bank when Kingfisher Airlines faced a threat of suspension by International Air Transport Association.
However, Justice Debangsu Basak pointed in his judgement on December 24 that Kingfisher wrote a letter to SBI requesting it to transfer the rupee equivalent of $52,27,588 to United Bank from funds coming into the trust retention account.
SBI, by its letter dated January 10, 2012 informed the Airline that, the balance in the account was not sufficient for the requested transfer of funds and had assured that it will make payment as and when money is received into the account.
KINGFISHER AirLINES' FlyING PERMIT TO EXPIRE ON DECEMBER 31, ALL DOORS ARE FINALLY GOING TO BE SHUT
With its two-year term to renew the Air Operator Permit expiring on December 31, all doors are finally going to be shut on the now defunct Kingfisher Airlines.
The Dr Vijay Mallya promoted full service carrier has been grounded since October 2013, having lost its Flying license on December 31, 2013 following refusal by the Civil Aviation regulator, Directorate General of Civil Aviation (DGCA), to renew it after the Airline management fairled to come up with a “satisfactory” plan of operations.
The Airline, however, was given a two-year time limit to get its licence renewed, which expires on December 31, 2014. “Kingfisher Airlines’ AOP will finally lapse on December 31, which means the company will have to apply afresh for Flying permit, if it wants to Fly agAirn,” a senior DGCA official .
Securing a fresh AOP involves a number of regulatory approvals from DGCA, no-objection certificates from civil aviation and other ministries, security clearances for the top management team of the proposed Airline from home ministry as well as comments and suggestions from various stake holders.
It is a co-incidence that Kingfisher Airlines’ AOP will lapse in the same month when Tata Group and Singapore Airline’s joint venture, Vistara, a full service carrier, secured its scheduled operator permit.
According to sources, Kingfisher still has 2,000 employees on its roll, including former staffers who quit the Airline during this period, who have not got their salaries since September 2012.
SBI held back Rs 7.5 cr to United Bank : Airline to HC Kingfisher Airlines (Kingfisher Airlines ) has told the Calcutta High Court, in the course of hearings on the wilful defaulter case, that State Bank of India (SBI) held back Rs 7.5 crore to United Bank of India. However, the court pointed out that SBI had informed Kingfisher that the balance in its account was not sufficient for the requested transfer of funds.
Kingfisher Airlines owes about Rs 10,000 crore to a consortium of 16 Banks.
Arguing on behalf of Kingfisher Airlines , senior advocate S Pal told the court that SBI, which was operating the trust retention account, did not forward INR 8 Crore to United Bank of India as repayments from the Airline.
The intended repayment was for an overdraft granted to the company by the bank when Kingfisher Airlines faced a threat of suspension by International Air Transport Association.
However, Justice Debangsu Basak pointed in his judgement on December 24 that Kingfisher wrote a letter to SBI requesting it to transfer the rupee equivalent of $52,27,588 to United Bank from funds coming into the trust retention account.
SBI, by its letter dated January 10, 2012 informed the Airline that, the balance in the account was not sufficient for the requested transfer of funds and had assured that it will make payment as and when money is received into the account.
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