The UB Group, the promoter of Kingfisher Airlines, will infuse fresh funds into its grounded carrier from its own coffers and through a strategic international investor, according to press reports citing a source familiar with the matter.
The airline, which needs to submit a restructuring plan to the Directorate General of Civil Aviation to resume operations by December with a minimum five planes, is also meeting with its group of 17 this week to discuss their options.
“Kingfisher Airlines has informed that it is working on a comprehensive plan for revival,” said Arun Mishra, the director general of civil aviation, adding that there is no deadline for submitting a revival plan.