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Kingfisher Airlines caused Rs 290 crore loss to AAI, says CAG

Kingfisher Airlines caused Rs 290 crore loss to AAI, says CAG

Bogged down by mounting debt and operational issues, the Vijay Mallya-owned KFA was grounded in 2012 after aviation regulator DGCA cancelled its licence.

Banks pile pressure on liquor baron Mallya over airline loans

Lenders are increasing pressure on liquor baron Vijay Mallya to facilitate repayment of the debts of his Kingfisher Airlines , which has not flown since 2012 and owes more than $1 billion to a consortium of mostly state-run banks.

Kingfisher Airlines loses domestic and international flying slots

Flying or airport slots are rights allocated to a scheduled airline by an airport operator or government agency, granting the slot owner the right to schedule a landing or departure during a specific time period.

Kingfisher should infuse Rs 2,000 cr for revival: Chaudhuri

Kingfisher Airlines, promoted by Vijay Mallya, owes Rs 7,500 crore to a consortium of 17 banks led by SBI.

KFA, lenders meet inconclusive; banks want fresh fund infusion

The lenders group, led by State Bank, has PNB, BoB, Bank of India and IDBI Bank as other members. Kingfisher owes over Rs 7,500 crore and one-year's accrued interest to 17 banks.

Kingfisher management to meet lenders today

The meeting between bankers and management of ailing Kingfisher Airlines on Friday is being considered crucial as it will determine the future course of action by lenders.

Kingfisher management to meet lenders on Friday

The meeting between bankers and management of ailing Kingfisher Airlines tomorrow is being considered crucial as it will determine the future course of action by lenders.

Service Tax Dept notices Kingfisher, `impounds' all aircraft

In more trouble for beleaguered Kingfisher Airlines, Service Tax Department has issued a notice to the carrier, "impounding" all its aircraft, department sources said here tonight.

DGCA seeks more details from Kingfisher on its finances

The Directorate General of Civil Aviation (DGCA) has sought more details from the beleaguered carrier as to how it would garner funds for payment of dues to its lenders and vendors, apart from paying the pending salaries of its employees, they said.

Kingfisher loses six more planes, says in talks with investors

The Vijay Mallya-owned carrier came out with a clarification on a possible stake sale following media reports that it is all set to sign a deal with Etihad to sell 48 percent stake for Rs 3,000 crore.

Kingfisher lessor takes back 4 planes; tax dept confiscates 1

The beleaguered airline owes around Rs 190 crore to the Service Tax Department, of which Rs 127 crore are under litigation.

Kingfisher management convenes meeting on Wednesday

The meeting, scheduled in Mumbai, is likely to be attended by top officials of the parent company, UB Group, apart from the airline top-brass.

Stop bookings, DGCA tells Kingfisher

"We have sent a notice to the airline to stop bookings," a top official of the Directorate General of Civil Aviation (DGCA) said here.

Banks to release funds to KFA on 'humanitarian grounds': SBI

State Bank of India Friday said Kingfisher lenders have decided to release funds to the debt-ridden airline on "humanitarian grounds" considering that its employees have not been paid fpr the past seven months.

Kingfisher extends lockout, faces licence cancellation

Debt-ridden Kingfisher Airlines hurtled towards a dead-end Friday as the carrier grounded its fleet for another week and the aviation regulator sought legal opinion on cancelling its flying licence.

DGCA issues show cause notice to Kingfisher

In more trouble for Kingfisher Airlines, aviation regulator DGCA Friday issued a show-cause notice asking why its flying license should not be suspended or cancelled as it had grounded its entire fleet and failed to offer safe and reliable service.

Kingfisher employees take out candle light march in Mumbai

About 100 Kingfisher employees, including engineers and pilots, today took out a candle light march from domestic airport to Kingfisher house here to protest against the death of a technician's wife, who allegedly committed suicide due to financial stress in Delhi.

Banks hold emergency meet to discuss way forward for KFA

Alarmed by never ending crisis in Kingfisher, its lenders are holding an emergency meeting here to discuss the future of their exposure to nearly-bankrupt carrier.

Kingfisher lenders hope airline mgmt won't let go belly up

The banker said: "None of us wants the airline to go bust. If that happens, banks will be a bigger casualty than the airline."

DGCA gives report on Kingfisher to Civil Aviation ministry

The regulator is also believed to have said that non- payment of salaries was a matter of serious concern, not only for the employees, but also affected safety as those seriously affected were manning flight operations.