Grounded Kingfisher Airlines revival plan lacks funding details

INDIA's air carrier Kingfisher Airlines, grounded since October and with estimated debts of US$2.5 billion, has failed to submit a concrete funding proposal, said Aviation Minister Ajit Singh.

The cash-strapped airline has failed to restart flights since grounding three months previous despite a revival plan it states is headed up by parent company UB Group.

The airline would require $118 million over a year in order to pay salaries, refurbish planes and money owed to banks, airports and tax authorities, reported the Wall Street Journal.

But it is unclear if UB Group are going to support the revival plan, said Mr Singh of the airline's chairman's Vijay Mallya's plan to resume business.