The Great Debate (India)
The Directorate General of Civil Aviation has summoned top executives of Kingfisher Airlines to explain a large number of flight cancellations, even as civil aviation minister Ajit Singh rules out providing any aid to the loss-making airline.
Kingfisher has so far failed in efforts to get fresh equity capital. Banks own about a quarter of its shares after the company’s debt was restructured early last year. And the State Bank of India has refused to lend further if the airline did not infuse fresh equity.
Stranded passengers have been venting their anger at the airline on social networking websites, blaming the company’s inability to provide on time information about cancelled flights.
Should the government step in to rescue Kingfisher Airlines. Share your views?