Key executives in Kingfisher Airlines and Air Deccan, which announced merger plans on Wednesday, said the merged company has plans to almost double its fleet from 80 to 158 aircraft over the next five to seven years and raise $250 million through equity infusion to finance its immediate expansion needs.
Management claims that the talks are moving in the right direction.
Spelling fresh trouble for Kingfisher Airlines, aviation regulator DGCA is likely to issue a show-cause notice asking why its flying license should not be suspended or cancelled.
The airline on Thursday night extended its partial lockout till October 12 as talks between its management and employees failed to break the deadlock over non-payment of salaries for the last seven months.
The airline needs at least Rs 1,000 crore to fly again.
The flights include Mumbai-Chennai, Mumbai-Mangalore and Mumbai-Khajuraho.
The message was given to the airline's CEO, Sanjay Aggarwal, at a meeting here on Wednesay.
Private airlines Jet Airways and Kingfisher owe state-owned oil firms over Rs 1,774 crore (Rs 17.74 billion) in unpaid jet fuel bills, Minister of State for Petroleum and Natural Gas Jitin Prasada said on Thursday.
While 22 flights of the airline were cancelled from Delhi, nine were cancelled from Mumbai, sources said.
The company's meeting with the striking employees failed to resolve the deadlock over unpaid salaries.
Beleaguered Kingfisher Airlines on Monday virtually blamed the Income Tax authorities for the large-scale flight disruptions, saying freezing of its bank accounts by them had "severely affected" payment schedules that had led to the curtailment in its services.
The controversy over a DGCA note on beleaguered Kingfisher Airlines refused to die down with new DGCA chief Prashant Sukul saying there was no such document and his predecessor E K Bharat Bhushan seeking a probe into whether it was removed from the official file.
A section of pilots of Kingfisher Airlines on Tuesday went on a strike over non-payment of salary and other dues for the past five months, forcing cancellation of five flights.
Kingfisher Airlines Chairman Vijay Mallya has blamed almost everyone, including engine suppliers, employees, banks and tax authorities, for grounding of the carrier since October last year.
The Centre has ordered a probe into how a crude bomb found its way into the cargo hold of a Kingfisher flight in a "major breach of security", Civil Aviation Minister Praful Patel said on Tuesday.
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About 200 engineers reported sick in April protesting delay in salaries.
Air India and Jet would, however, operate their flights to the US and Canada by taking a diversion, sources in the airlines said.
These pilots have completed their probation and all endorsements, but the company has decided not to renew their service contracts in view of the huge losses and capacity reduction.
Seeking permission for direct import of jet fuel, Kingfisher Airlines has informed the government that steps are being taken to improve cash flow of the debt-ridden carrier by procuring ATF through suppliers' credit on lower interest rates.
Jet Airways, Kingfisher Airlines and state-owned NACIL owe public sector oil companies over Rs 2,241 crore (Rs 22.41 billion) as payment for jet fuel, Minister of State for Petroleum and Natural Gas Dinsha Patel said on Tuesday.
Kingfisher Airlines, India's first full service low-cost carrier, will induct 11 new Airbus A320 aircraft to its fleet by January 2006, its chairman and managing director Vijay Mallya said on Wednesday.
A British socialite who was accused of indulging in obscene acts while being drunk during a Bangalore-London Kingfisher flight on March 2006, has been acquitted.
IndiGo and Paramount Airways managed to register profit during the last fiscal.
As the competition between new airlines to attract passengers becomes increasingly cut-throat, damage caused to a plane by a toppled step-ladder has become the bone of contention between the two carriers.
The CBI has launched an initial probe over the loan against both companies, a spokeswoman for the agency said on Saturday.
The plane will take off from Bangalore airport at 8.30 am and land at Hubli airport at 9.30 am.
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Goa Airport spokesman said the A320 landed at 8.10 am after the pilot noticed the crack.
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No-frills carrier Go First filing for insolvency proceedings and cancelling flights is bad for the airline industry as the move will reduce capacity and could push airfares in certain routes, travel agents' grouping TAAI said on Wednesday.
Kingfisher Airlines, the two-year-old private airline promoted by liquor conglomerate UB, has decided to replace its pilots' gross salaries with a two-part pay structure based on the number of hours they fly.
The airline, which declared a partial lockout on Tuesday, has said it will start flying again from October 5.
Government-owned and financially ailing AI has been dropping its economy class fares to the level of low-cost carriers.
As per RBI guidelines, a wilful defaulter tag would be given if it is found that a loan taken is diverted for some other use rather than for which it was availed.
'But for the change in the method of accounting... the loss for the quarter ended September 30, 2008 would have been more by Rs 129.5 crore (Rs 1.29 billion) and for the half-year ended on that date would have been more by Rs 744.23 crore (Rs 7.44 billion),' chartered accountant B K Ramadhyani & Company said in their report to the board of directors of Kingfisher Airlines.
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