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Oct 05, 2012, 05.53 PM IST | Source: Reuters

Kingfisher Airlines faces licence cancellation

The aviation regulator is seeking legal opinion on cancelling the licence of beleaguered carrier Kingfisher Airlines, which has grounded its fleet since Monday, civil aviation minister Ajit Singh said on Friday.

Kingfisher Airlines faces licence cancellation

The aviation regulator is seeking legal opinion on cancelling the licence of beleaguered carrier Kingfisher Airlines , which has grounded its fleet since Monday, civil aviation minister Ajit Singh said on Friday.

The airline controlled by liquor baron Vijay Mallya is seven months behind on salary payments to employees and has never turned a profit since its launch in 2005.

"Whether (aviation regulator) can suspend the licence or not, we will not allow Kingfisher to fly unless they meet the concerns that the DGCA has on safety and on the ability to maintain their operations," the minister told ET Now television channel.

Kingfisher Air stock price

On July 31, 2014, Kingfisher Airlines closed at Rs 3.19, up Rs 0.13, or 4.25 percent. The 52-week high of the share was Rs 6.84 and the 52-week low was Rs 2.06.


The latest book value of the company is Rs -166.59 per share. At current value, the price-to-book value of the company was -0.02.

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