Below is the edited transcript of his interview to CNBC-TV18.
Q: What is your initial reaction to the cancellation of this licence? Do you think that things have come to an end for Kingfisher with regards to the operations now?
A: This was unfortunate but it is not unexpected. We had been expecting it for sometime. Already there were speculations but this action now actually puts an end to that speculation.
Q: How do you think the event will progress from hereon? What would be the time line and events that could follow post the suspension of the licence?
A: Now they have to come back with even more credible plan as to how they plan to revive the airline and he DGCA will consider it that with a magnifying glass. If it does not meet scrutiny then their licence will be finally revoked and that could be an end.
Q: What would be the credible plan that could be submitted by Kingfisher at this point in time with regards to a possible bleak revival if there is a chance of it?
A: It has to acknowledge the current realities and for that licence you have to have at least five operational aircrafts. We have to first acknowledge that things have gone back and now from here we are going to pull it back. Unfortunately, now the employees will have to be asked to leave. The routes have to be chosen very carefully it could just be the trunk routes and then start the business. Track it every three months, six months and then gradually ramp it up to 10 aircrafts, 15 aircrafts and so on. The plan has to be very simple and credible. Which That anyway is going to through a lot of scrutiny by DGCA.
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KFA need more credible plan to stay afloat: KPMG
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