Govt can't bailout KF, but banks can: Ajit Singh
February 22, 2012  11:59

Civil Aviation Minister Ajit Singh on Wednesday said the government cannot bailout private airlines like beleaguered Kingfisher Airlines.

"The government is not going to bailout, but we hope Kingfisher can mobilize resources and survive," Singh told media here. He further said that that passenger safety issue would not be compromised at any cost.

On reports in the media that the State Bank of India (SBI) is lending over Rs 1600 crores to Kingfisher Airlines, Singh said: "We have said it before that banks will decide on it. If they are satisfied with the business plan, then they can lend the money."

Singh was speaking to media after a meeting with officials of Directorate General of Civil Aviation (DGCA) in Delhi. The DGCA yesterday gave Kingfisher Airlines time till today to come up with a revised and a clear schedule for the aircraft that it is still operating. 

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