Kingfisher Airlines and the summers of 2012

Posted By: Religare
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Kingfisher Airlines and the summers of 2012
With the summers of 2012 setting in, the heat is already taking the sweat out of Kingfisher Airlines. Plagued by financial losses, the airline is planning to operate only 40 flights during this summer vacations.

This would be around 85 per cent lesser than what it had operated during the same period of 2011. The company operated around 360 flights till a couple of months back.

Some reports have also suggested that the upcoming summer season could be last for the Vijay Mallya's airline as it faces threat of licence cancellation by the aviation regulators in case of any security gaps.

Usually it happens in schools, but employees in Kingfisher Airlines are also likely to get vacations for an uncertain period this summer. As per media reports, the company is looking to lay off as many as 3,500 employees after shutting down 32 of its work stations across airports in India and abroad.

The heat was also felt in the stock price of Kingfisher Airlines. The stock touched a 52-week low of Rs 16.40 a share on March 27, 2012 as investors panicked before Mallya's meeting with DGCA, where the two would discuss company's plan to survive in the summers of 2012 and ahead.

Dion Global Solutions Ltd

Read more about: kingfisher airlines
Story first published: Tuesday, March 27, 2012, 13:33 [IST]
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