Kingfisher emergency rescue waits for PM

For its part,Kingfisher today claimed it withdrew at least 40 additional flights across its network,including those on international routes,for the fifth day,even though Ministry officials said it had started withdrawing flights in the last few months,shifting its capacity to other airlines.

The airline,as was reported in The Indian Express on November 1,had sought government intervention for getting low-cost debt. The airline suffered a loss of Rs 1,027 crore in 2010-11 and has a mounting debt of Rs 7057.08 crore.

“I will also talk to the Finance Minister … (so that) some assistance from the lead banks is granted. … Closing down of flights affects the traveling public,” Ravi said. However,BJP leader Yashwant Sinha said his party was opposed to any government bailout to the debt-ridden airline.

Meanwhile,the airline said it would take a few more weeks to normalise its flight schedule,which as per aviation regulator

Directorate General of Civil Aviation (DGCA),has been cut by almost 35 per cent. “Kingfisher decided to rationalize network,drop unprofitable flights and expedite its fleet reconfiguration. This initiative will improve the long term profitability of the airline,” said airline CEO Sanjay Aggarwal.

On speculation about the closure of the airlines,he said Kingfisher does not see any risk to its future or long term

viability. “Kingfisher has not made any bailout request to the government. We have only asked our banks for an increase in limits due to significant increase in operating costs caused by increase in fuel prices and rupee devaluation,” Aggarwal said.

While he admitted that around 100 pilots had left the airline,Aggarwal said none of the flights was cancelled on account of shortage of flight crew. Sources said routes that have been dropped include duplicated trunk routes and those connecting smaller cities where loads were low.

“The attrition of 100 pilots did not happen overnight. Kingfisher has sufficient number of pilots and a robust

pipeline of new pilots to continue to operate its scheduled flights,” Aggarwal said. Admitting that there has been a few days delay for the “last 2-3 months in payment of employee salaries,” he said all employees have been paid in the month the salaries were due.

The airline,which was showcaused by DGCA on Wednesday for dropping flights without prior information,said the cancellations are temporary in nature,and is part of a strategy being implemented in “pre-determined and well controlled” manner. The airline shot off emails to its frequent flyers assuring them of “uninterrupted operations” once its aircraft are re-fitted.