Kingfisher to arrange own funds to restart airline

NEW DELHI | Fri Oct 26, 2012 2:14pm IST

(Reuters) - Kingfisher Airlines(KING.NS), which agreed this week to pay overdue salaries to its staff, will source funding from its own resources to get the grounded carrier flying, the DGCA said on Friday.
The Director General of Civil Aviation (DGCA) has asked the debt-ridden airline to prepare and submit its winter schedule, the regulator said in a statement.
"The (Kingfisher) CEO further informed that at present, the source of funding for the airline will be through their own resources," the DGCA said.
Kingfisher Airlines, owned by liquor-baron Vijay Mallya has not flown since the beginning of this month, after an employee protest turned violent, and the DGCA on Saturday suspended the carrier's licence over safety concerns.
The airline management on Thursday succeeded in getting its employees join work.