Latest business news reveals that Kingfisher Airlines Ltd has declared a partial lockout and cancelled its flights. The company called off as labour’s disorder creates troubles for the debt-laden firm.
Yesterday, KFA was forced to cancel all its flights after company’s latest conflict with workers, sending Kingfisher Airlines stock down by its maximum every day limit. Read more
Kingfisher Crises: 3 fights cancelled, pilots on strike
According to latest reports, the crises in Kingfisher Airlines has once again revealed as three flights were cancelled from Mumbai on Saturday morning.
The Vijay Mallya’s Kingfisher Airlines [KFA] pilots continued with their strike and did not return of job yet.
Further, reports have said that the fights cancelled were IT 101 to Bangalore, IT4141 to Kandla and IT 181 to Chennai. Read more
One by one more blow has been raise on the debt laden KFA as today, source reported, all the banks from them airline had raised the loans decided to sell off Kingfisher’s non-core assets to recover their debts.
In the list of Kingfisher’s non-core assets, Mumbai’s House of Kingfisher and CEO Vijay Mallya’s villa in Goa are included. Read more
ICICI sells 4 billion Kingfisher loan to Srei Infrastructure Finance
As per latest business report, beleaguered Kingfisher Airlines is seeking repayment of its debts by selling assets held against their loans raising scope of outside investment.
Loosing the hopes of lenders, as per source, one of Kingfisher’s lenders, ICICI Bank has sold about 4 billion rupees of the Kingfisher Airlines’s assets against debts to a debt fund managed by the Kolkata-based Srei Infrastructure Finance on Monday. Read more