Govt may cancel Kingfisher Airline’s license- Ajit Singh

TNN

New Delhi, 20 March 2012: Government may cancel Kingfisher Airlines’ licence if safety norms and financial viability conditions are not met, aviation minister Ajit Singh told reporters on Tuesday. 

 

Ajit Singh                                          Vijay Mallya

The cash-strapped carrier, which is now operating 18 planes, has failed to stick to its recovery plan, Singh said. 

 

Kingfisher Airlines, which has a debt of $1.3 billion, is facing collapse as banks have refused to lend more for day-to-day operations.