New Delhi: Worried at the crippling cash crunch faced by Indian
airlines, the aviation regulator is doing their financial audit to
ensure that only carriers with funds to fly safely stay in the business.
The directorate general of civil aviation (DGCA) had recently asked all
Indian carriers to submit their financial details and answer a list of
questions like if they are buying spares or cannibalizing planes and are
they paying salaries in time.
The airlines have now submitted their replies and the regulator is examining them. The financial health of one particular low-cost carrier (LCC) is especially a suspect and its name may be thrown up as an airline with "substantial findings". Such airlines have two options — either shrink to operate a smaller fleet with full safety or shut down.
Read news in full 16/07/14 Saurabh Sinha/Times Of India
The airlines have now submitted their replies and the regulator is examining them. The financial health of one particular low-cost carrier (LCC) is especially a suspect and its name may be thrown up as an airline with "substantial findings". Such airlines have two options — either shrink to operate a smaller fleet with full safety or shut down.
Read news in full 16/07/14 Saurabh Sinha/Times Of India
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