Kingfisher stares at operational shutdown: CAPA

New Delhi: The beleaguered Kingfisher Airlines may be staring at an operational shutdown within the next 30-60 days if it is unable to infuse $600 million immediately, Centre for Asia Pacific Aviation (CAPA), an aviation industry consultant said.
“Kingfisher faces the prospect of an operational shutdown, possibly temporarily, to allow it to restructure and reorganise. A viable turnaround is unrealistic without a significant recapitalisation of the airline.” CAPA said in its report on the industry’s performance in the first quarter of the current fiscal.
“Kingfisher is able to continue as a result of daily infusions of funding by the promoter; however with mounting losses the situation is unsustainable. In Q1, the promoters invested $133.9 million, but this barely allows the airline to survive,” the report said.
25/08/12 Daily News & Analysis

To Read the News in full at Source, Click the Headline

Categories: Kingfisher Aug 2012