Hope KFA submits credible plan to DGCA: CAPA

Kapil Kaul of CAPA, says that if the employees don't come into the game then there will be no future at all. I believe the employees were insisting for four months salaries, but if the management has agreed to give three months salaries then they will be in a position to present a credible plan to the DGCA at least to start with five aircrafts.

Below is the edited transcript of his interview to CNBC-TV18.

Q: What is your view on the recent turn of events where the Kingfisher management has assured the employees to pay the employees three months salary and finally employees seemed to have boxed those assurances for now?

A: I don't think that the employees have any option. Getting three months salary from no salary three weeks backs; is a good beginning. If the employees don't come into the game then there will be no future at all. I believe that the employees were insisting for four months salaries, but if the management has agreed to give three months salaries then they will be in a position to present a credible plan to the DGCA at least to start with five aircrafts.

Q: KFA is sitting on mountain of debt; lenders are waiting for the company to clear their dues, only seven aircrafts are airworthy. What kind of credible plan do you present in this context?

A: Credible plan means to have five aircraft operational which is required to keep his licence intact. Credible plan for a turnaround is all together a different ball game. The company requires a minimum USD 600 million immediately to start a revival plan and the balance USD 400 million needs to come in the near term.

Q: Do you believe that DGCA will agree to sign up to lift the suspension given the fact that they are only going to do enough to keep that licence condition afloat. Do you believe given the fact they have already seen their licence being suspended the DGCA is going to go easy?

A: If the airline has five airworthy aircrafts, sufficient cash to maintain those aircraft, have employees on board then the suspension can be revoked. Earlier, the question was that the employees were not coming on board, so the opeartions were suspended. Turnaround of Kingfisher is a different ball game altogether because unless and until the promoted capitalizes to the tune of USD 400 million there isn't any game.

Anda sedang membaca artikel tentang

Hope KFA submits credible plan to DGCA: CAPA

Dengan url

http://gayafashionshow.blogspot.com/2012/10/hope-kfa-submits-credible-plan-to-dgca.html

Anda boleh menyebar luaskannya atau mengcopy paste-nya

Hope KFA submits credible plan to DGCA: CAPA

namun jangan lupa untuk meletakkan link

Hope KFA submits credible plan to DGCA: CAPA

sebagai sumbernya