The money to revive the cash-strapped airline could come from Vijay Mallya's UB Group as there is no investor available in the near term.
Kingfisher CEO Sanjay Aggarwal met the Directorate General of Civil Aviation (DGCA) officials on Friday afternoon and will now meet Mallya to discuss the revival plan. The meeting came after the striking employees and management shook hands on a staggered salary payment plan on Thursday.
The breakthrough came just in time for Mallya to land in Delhi on Friday and head straight for the Indian Grand Prix. Now, all aircraft will have to undergo checks and be cleared.
The engineers and the pilots have to attend operational preparedness meetings with the DGCA before being cleared for operations. The financial viability plan will be submitted to the airline regulator soon.
The troubled airline will get the clearance only after Airport Operators, Oil PSUs, MROs, ground handling agents and vendors agree to the payment terms set by Kingfisher management.
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