October 26, 2012 / 9:04 AM / 8 years ago

India's Kingfisher to arrange own funds to restart airline-regulator

People are silhouetted as Kingfisher Airlines' aircrafts are seen parked at an airport in New Delhi October 1, 2012. REUTERS/Mansi Thapliyal

NEW DELHI (Reuters) - Kingfisher Airlines KING.NS, which agreed this week to pay overdue salaries to its staff, will source funding from its own resources to get the grounded carrier flying, India’s aviation regulator said on Friday.

The Director General of Civil Aviation has asked the debt-ridden airline to prepare and submit its winter schedule, the regulator said in a statement.

“The (Kingfisher) CEO further informed that at present, the source of funding for the airline will be through their own resources,” the DGCA said.

Kingfisher Airlines, owned by liquor-baron Vijay Mallya has not flown since the beginning of this month, after an employee protest turned violent, and India’s civil aviation regulator on Saturday suspended the carrier’s license over safety concerns.

The airline management on Thursday succeeded in getting its employees join work.

Reporting by Arup Roychoudhury

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