Mumbai: Kingfisher Airlines Ltd plans to return some aircraft voluntarily to lessors after defaulting on payments and has seen a fresh exodus of pilots, local media reported.
Kingfisher shares plunged as much as nearly 20 per cent on Tuesday ahead of a meeting between the airline's top executives and the country's aviation regulator.
The Directorate General of Civil Aviation (DGCA) has asked the struggling carrier to explain why it has cancelled a large number of flights since Saturday.
Kingfisher will return two more Airbus A320s this month to their lessors, as their leases have been terminated because of payment defaults, the Mint newspaper reported on Tuesday, citing a government official who declined to be named....more
10:51 AM, Feb 21, 2012