German bank sues DGCA over Kingfisher Airlines planes
Quotes

German bank sues DGCA over Kingfisher Airlines planes

Last Updated: Saturday, December 22, 2012, 00:33
 
 Comment 0
 
German bank sues DGCA over Kingfisher Airlines planes
Zeebiz Bureau

New Delhi: German bank DVB SE has sued Directorate General of Civil Aviation (DGCA) and Kingfisher Airlines for deregistering two planes it financed in the cash-strapped carrier.

According to reports in Reuters, the case underlines the problems that leasing firms and financing companies face in recovering grounded planes from Kingfisher, as airports, banks and tax authorities scramble for the crisis-hit carrier's assets.

The Indian aviation regulator must deregister the DVB-financed Airbus planes, now parked in Istanbul, before the bank can put them to use or lease them out, reports said.

"We have now filed a writ petition at the High Court in Delhi against DGCA and also Kingfisher, strictly focused on deregistration," the news agency quoted Carsten Gerlach, senior vice president of aviation finance at DVB.



First Published: Saturday, December 22, 2012, 00:33


Comments


comments powered by Disqus
G20 Summit 2014
G20 Summit 2014
2014`s Top People in Business: Fortune
2014`s Top People in Business: Fortune
World Bank`s Top 10 Places for Business
World Bank`s Top 10 Places for Business
India`s top ten billionaires
India`s top ten billionaires
Top 10 billionaire cities- In Pics
Top 10 billionaire cities- In Pics

Web Wrap
Contact Us : Privacy Policy : Legal Disclaimer
Copyright © Zee Media Corporation Ltd. All rights reserved