Kingfisher Airlines submits new revival plan

http://www.bbc.co.uk/news/business-22103965

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India's embattled Kingfisher Airlines has submitted a fresh revival plan to aviation authorities as it sought their permission to restart operations.

The airline's parent firm, UB Group, will inject 6.5bn rupees ($119m; £77m) to reinvigorate the carrier.

Kingfisher has $1.4bn in debts and has not been able to raise fresh loans.

Its flying permit lapsed at the end of last year and regulators have asked the airline to outline how it plans to secure its future before renewing it.

The carrier said that it has detailed its proposals to revive the airline in the latest submission.

"We have given a complete plan... which includes our schedule that we plan to operate, the aircraft we plan to operate, the number of people we have," said Sanjay Aggarwal, chief executive of Kingfisher.

"We have requested that our licence be renewed," he added.

An earlier plan submitted by the airline was rejected by the authorities.