India's Kingfisher submits plan to regulator to restart airline: CEO

NEW DELHI Wed Apr 10, 2013 7:23am EDT

A passenger walks with her luggage in front of a Kingfisher Airlines reservation office at the domestic airport in Mumbai October 23, 2012. REUTERS/Danish Siddiqui

A passenger walks with her luggage in front of a Kingfisher Airlines reservation office at the domestic airport in Mumbai October 23, 2012.

Credit: Reuters/Danish Siddiqui

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NEW DELHI (Reuters) - India's grounded Kingfisher Airlines (KING.NS) has submitted a plan to the country's aviation regulator to restart operations, asking for its license to be renewed with the help of funds from its parent UB Group, its Chief Executive said on Wednesday.

"We have given a complete plan ... which includes our schedule that we plan to operate, the aircraft we plan to operate, the number of people we have," Sanjay Aggarwal told reporters in the Indian capital.

"We have requested that our license be renewed," he said, adding that the carrier plans to start operations with seven planes.

Kingfisher, controlled by liquor baron Vijay Mallya, who also owns UB Group, has been halted due to a cash crunch, and lenders are trying to recover $1.4 billion of loans in default.

(Reporting by Devidutta Tripathy; editing by Matthias Williams)

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