Cash strapped Kingfisher Airlines has lost its permit to fly after a deadline to renew its suspended licence expired.Directorate-General of Civil Aviation,DGCA, chief Arun Mishra told a news agency that the Kingfisher’s flying permit has lapsed.Referring to Kingfisher’s revival plan submitted to the DGCA last month Mishra informed that the airlines failed to provide additional details on the funding of operations.However,Kingfisher Spokesman Prakash Mirpuri said in a statement that there is no cause for concern as the rules allow for the renewal of a permit within two years of expiry.
The news is a fresh blow for the debt-laden carrier whose operations have been grounded since October after employees went on strike over unpaid wages.Kingfisher, controlled by liquor baron Vijay Mallya, owes millions of dollars to banks, airports, fuel suppliers and its staff and has been looking for a foreign investor to inject fresh funds.
The firm has been the worst-hit of India’s airlines in 2012, with the industry plagued by high jet fuel prices, fierce competition, price wars and shabby airport infrastructure.