Kingfisher Airlines working on 'holding pattern' basis: Vijay Mallya

New Delhi: Kingfisher Airlines Chairman Vijay Mallya has said the carrier is working on a "holding pattern" basis with limited operation, pending policy changes.
"Due to the current situation, your company is operating as a "holding pattern" with limited operation, pending policy changes which are in the offing," Mallya said on behalf of Kingfisher's board in the company's Report of the Directors for the year 2011-12.
The report of the directors is part of the airline's latest annual report, which was released to its shareholders this evening ahead of their Annual General Meeting on September 26, 2012 in Bangalore.
In the airline business, a pilot is said to follow 'holding pattern' when an airplane makes several mid-air turns, while waiting for a clearance to land or to avoid crashing with other aircraft.
Kingfisher's net loss more than doubled to Rs 2,328 crore in 2011-12, from Rs 1,027 crore in the previous year.
03/09/12 PTI/Economic Times

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Categories: Kingfisher Sep 2012