Kipling india travels pvt. ltd
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The Directorate General of Civil Aviation suspended Kingfisher Airlines' license to operate after it failed to address regulatory concerns about its operations. Kingfisher had been saddled with losses of Rs. 8,000 crore and debt of Rs. 7,524 crore. The airline currently only has 10 operational aircraft compared to 66 a year ago. The license will remain suspended until Kingfisher submits a satisfactory plan to relaunch scheduled operations to the DGCA.
Kipling india travels pvt. ltd
- 1. KIPLING INDIA TRAVELS PVT. LTD OFFICIAL NEWSLETTER 22-Oct-2012 KINGFISHER AIRLINES LICENSE SUSPENDED MUMBAI: Following a suspension of license by the DGCA on Saturday, shares in Kingfisher Airlines LtdBSE -4.80 % dropped 4.8 per cent on Monday. Kingfisher's licence was suspended after it failed to address the regulator's concerns about its operations,forcingthe debt-laden carrier to stop taking bookings. The Directorate General of Civil Aviation (DGCA) suspended the Scheduled Operator Permit of Kingfisher AirlinesBSE -4.80 % till further orders, Civil Aviation Ministry officialssaid. Suspension of flying license implies an immediate halt to all bookings on the entire Kingfisher network as well as through travel agents, the officials said. The liquor baron Vijay Mallya-owned carrier has been saddled with a loss of Rs 8,000 crore and a debt burden of another over Rs 7,524 crore, a large part of which it has not serviced since January. The airline currently has only 10 operational aircraft compared to 66 a year ago. Asked why the license was suspended, the officials said the government did not want a situation where the airline, which was on cash-and-carry mode for almost all service providers, re-starts operations and then keeps flying in fits and starts, as has been happening since last year-end. The airline, under a lockout since October one and resultant suspension of entire operations, had yesterday sought more time to respond to the DGCA's show-cause notice but did not give any timeline by which it would do so. The DGCA had issued the show-cause notice on October 5 to the crisisridden carrier asking why its flying licence should not be suspended or cancelled as it was not adhering to its flight schedule and "abruptly cancelling its flights time and again during the last 10 months", causing great inconvenience to the travelling public. Kipling India Travels Pvt. Ltd Address :- 303, 3rd floor, MM Plaza B1, Mini Mkt, Janakpuri New Delhi 110058 Phone number:- 011 25525312, 45528702 E-mail address: info@kiplingindiatravels.com
- 2. KIPLING INDIA TRAVELS PVT. LTD OFFICIAL NEWSLETTER The aviation regulator had given the airline 15 days to respond, the deadline for which also expired. The airline has suffered losses of Rs 1,609 crore in 2008-09, Rs 1,647 crore in 2009-10, Rs 1,027 crore in 2010-11 and Rs 732 crore in 2011-12. Elaborating on the suspension of licence, the Civil Aviation Ministry officials said the flying permit was suspended under the Civil Aviation Rules and provisions of the Aircraft Act. The permit would remain suspended till such time that Kingfisher submits "a concrete and reliable plan" to relaunch its scheduled operation "to the satisfaction of the DGCA". Kipling India Travels Pvt. Ltd Address :- 303, 3rd floor, MM Plaza B1, Mini Mkt, Janakpuri New Delhi 110058 Phone number:- 011 25525312, 45528702 E-mail address: info@kiplingindiatravels.com