Kingfisher Airlines license suspended

Kingfisher Airlines had failed to reply to any of the questions posed in the Directorate General of Civil Aviation's (DGCA) show cause notice.
Instead, the airline has asked for time to reply in person to the notice.
In a statement, the debt-ridden airline announced that that it has extended it's ongoing lockout to October 23.

Meanwhile, Kingfisher itself remains hopeful of being able to resume operations by November. In a statement issued, it said, "Kingfisher Airlines Ltd has extended the partial lockout until October 23, 2012. We had a positive meeting with employee representatives on October 17 and are hopeful of reaching common ground when we meet again next week. Currently, we anticipate resuming operations on November 6, subject to our resumption plan being reviewed and approved by the DGCA."

The stock fell 4.58 percent to close at Rs 11.45 on Friday, which tanked nearly 18 percent in last 15 days.