Business Videos

Kingfisher loses flying permit

Jan 01 2013 00:00 IST
The Directorate-General of Civil Aviation (DGCA) today said that debt-laden Kingfisher Airlines has lost its permit to fly after a deadline to renew its suspended licence expired on Monday. The news is a fresh blow for the airline which has not operated its flights since October after employees went on strike over unpaid salaries. However, the airline said that there is no cause for worry as the rules allow for the renewal of a permit within two years of expiry. Meanwhile, shares of Kingfisher Airlines are currently trading at Rs. 14.30 on the National Stock Exchange, down over 4 percent from its previous close