New Delhi/Mumbai: Labour unrest forced Vijay Mallya's Kingfisher Airlines Ltd to cancel all its flights on Monday in the latest blow for the ailing carrier as it scrambles to find an investor, sending its stock down by its maximum daily limit.
India warned it would not allow Kingfisher to fly if safety rules were not followed, and the industry regulator will meet Kingfisher executives on Tuesday to discuss safety issues, Civil Aviation Minister Ajit Singh said.
Kingfisher, controlled by flamboyant liquor baron Vijay Mallya and once India's No. 2 carrier by domestic market share, has struggled with its $1.4 billion debt and banks have refused to lend it more unless it can infuse fresh equity.
The carrier, which has never made a profit, had already grounded most of its fleet.
01/10/12 Indian Express
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India warned it would not allow Kingfisher to fly if safety rules were not followed, and the industry regulator will meet Kingfisher executives on Tuesday to discuss safety issues, Civil Aviation Minister Ajit Singh said.
Kingfisher, controlled by flamboyant liquor baron Vijay Mallya and once India's No. 2 carrier by domestic market share, has struggled with its $1.4 billion debt and banks have refused to lend it more unless it can infuse fresh equity.
The carrier, which has never made a profit, had already grounded most of its fleet.
01/10/12 Indian Express
