The plan entails a further curtailing of international operations, pulling out of all loss-making routes, renegotiating high-cost aircraft lease rentals, tapping foreign loans for working capital, and getting back its $40 million deposit from the International Air Transport Association, or IATA. 

Kingfisher Airlines also plans to disburse salaries in a phased manner to its employees, who have not been paid since December as per a report in Mint by P R Sanjai.

The meeting is crucial for Kingfisher Airlines as it has failed to convince the director general of civil aviation (DGCA) of its ability to meet regulatory requirements in running its fleet.

The regulator has issued a show-cause notice to the airline asking why it should be allowed to continue operations. DGCA can initiate tough measures against the airline if it fails to convince the regulator about its potential for recovery, since the cash crunch can affect flight safety.