New Delhi: Since Kingfisher Airlines has failed to submit its revival report by January as legally directed, and also now has its licenses expired, the Airport Authority of India has said that it will be taking back airport slots which earlier were given to the cash strapped airliner. This decision came ahead of the crucial meeting of the lenders who will be meeting the team from the Vijay Mallya owned entity, to discuss its way forward for recovering the dues which run into nearly Rs 8,000 crores.
In the recent developments, Abu Dhabi based international airline company, Etihad Airways has been on the brink of signing a crucial code sharing and stake buying aggrement with Kingfisher's arch rival, Jet Airways. Now that the final details are to be prepared, it makes incresingly tough for Kingfisher to re-emerge as a financially viable entity, becuase that would mean, that FDI in aviation for them is eliminated in entirety.
04/01/13 Dailybhaskar.com
