Kingfisher Airlines gets no objection certificate from Oil companies

Kingfisher-Airlines-gets-no-objection-certificate-from-Oil-companies

There seems to be some ray of hope for beleaguered Kingfisher Airlines that has been given a “no objection certificate” by oil companies and some aircraft leasing companies to restart operations, a news wire quoting sources said on Wednesday.

However Kingfisher Airlines has failed to get the no objection certificate from airports to fly again, the news wire further added.

Since October 2012 the airline has not flown as it lost its operating licence which curtailed its flying.

KFA which is estimated to owe USD 2.5 billion in debt to banks, staff, vendors and others, had submitted a USD119 million revival plan to the regulators. An official at the DGCA said last week that the plan would not be sufficient to rescue the airline.

Meanwhile, Kingfisher Airlines shares traded higher by 4.62 percent at Rs 14.72 on BSE as against its previous close of 14.07.

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