DON'T SHARE NUISANCE.
Govt to give away KFA slots, flying rights to others
Indian carriers will now have an additional 25,000 seats available each week to fly to Hong Kong, Singapore, Thailand, United Kingdom, UAE among eight others.
New Delhi: The government said it will give away Kingfisher Airlines' slots and foreign flying rights to other operators in the latest blow to the grounded carrier. Kingfisher, controlled by liquor baron Vijay Mallya, has been halted due to a cash crunch, and lenders are trying to recover $1.4 billion of loans in default.
Kingfisher, which saw its flying license expire at the end of last year, has two years from then to apply for a renewal. But with lenders, airports, and banks looking to recover their dues, and with its slots going to rivals, a comeback could prove extremely difficult for the airline, once India's number 2 carrier.
The Civil Aviation Ministry said in a statement it will make the slots and flying permits available to other airlines. Kingfisher, whose planes have been idle since October, flew to Hong Kong, Singapore, Thailand, United Kingdom, UAE among eight others.
Indian carriers will now have an additional 25,000 seats available each week to fly to these countries, the statement said. Kingfisher posted a Rs 7.55 billion loss in the three months to December 31 as its planes sat idle, and regulators rebuffed its revival plans.
Recommended For You
- Virat Kohli and Shikhar Dhawan Turn on Delhi Swag in London
- GM Accused in Lawsuit of Cheating on Diesel Truck Emissions
- Big B Celebrates 40 Years of Amar Akbar Anthony with an Adorable Photo
- Exclusive: Read Excerpts From Sita: Warrior of Mithila by Amish Tripathi
- Pirates of The Caribbean: Salazar's Revenge Just Taps Into Collective Nostalgia