Kingfisher Airlines woes could hit funding for other Indian airlines: DVB
The Directorate General of Civil Aviation (DGCA), India's aviation regulator, must deregister the DVB-financed Airbus planes, now in Istanbul, before the bank can put them to use or lease them out.
Kingfisher has 33 scheduled passenger planes registered in India, according to data from the DGCA. It had a fleet of 64 a year ago, when it was India's No. 2 carrier by market share.
Debt-ridden and with no customers, Kingfisher posted a 7.55 billion rupees ($142 million) loss in the three months to Dec. 31 as its planes sat idle, creditors circled and regulators rebuffed the Indian airline's revival plans.
Aircraft are mostly paid for on delivery, meaning any shortfall in funding could affect the handover of jets on order from manufacturers such as Airbus and Boeing.
Europe's Airbus has a total of 384 aircraft on order from India that have yet to be delivered, according to end-December data. For its U.S. rival Boeing, the figure is 107 aircraft.
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