“Request to start operations at the earliest so that at least we can start charter movement for Ministry of Defense… and also we can start selling inventory so that customer confidence can be restored… customers who Those facing very high fares may be provided with an alternative,” the airline’s CEO Kaushik Khona said in response to the clarification sought by the DGCA, “duly authorized by the resolution professional”.
The airline stopped flying on May 2 and Khana, in a letter to the regulator, said 341 pilots had resigned.
“Pilots who are on resignation are counted as not available from day one. However, he is likely to resume duty with us once the salary is paid and he accepts the offer of increment including retention pay.
Perhaps with no investors so far, Khona lists Rs 208 crore undrawn Emergency Credit Line Guarantee Scheme (ECLGS); unutilized bank limit of Rs 181 crore and it is in discussion to arrange “interim funding of Rs 200 crore for which LOI is awaited” as a source of fund infusion to restart the service.
The regulator had asked how the airline proposes to give refund As per rules. “Upon resumption of services, all refunds of tickets arising out of flight cancellation will be handled as per (rules). We have so far refunded canceled PNRs in the mode of payment. Around 98% of canceled PNRs are booked through travel agents and we have already credited the IDs of travel agents. Once flights are allowed to resume, travel agents will have a better ability to refund passengers.”
“On those PNRs that were booked on our website and booked directly, and for which the PNR was cancelled, the funds have already been credited to the payment gateway. Refund process will start as soon as the amount is deposited from fresh booking Once they get permission,” says Khona.
“Once operations resume, we have reduced all payments including lease rent and lease rent for aircraft starting August 2023. Paid from July 2023.
Cash and carry will be the “arrangement with airport operators for resumption of operations” once the resumption plan is approved by the DGCA.