European planemaker Airbus, which has accommodated Kingfisher by pushing its aircraft deliveries back in the queue, would lose outstanding orders for 92 planes with a combined list price of $12 billion.
It would also see Kingfisher's fleet enter the second-hand market.
"We have supported them in good times and we are supporting them in bad times," said Airbus spokesman Justin Dubon.
Kingfisher shares, worth about $190 million, skidded to a record low this week on mounting fears of the airline's demise.
Mallya on March 20 submitted what he described as a "holding" plan with regulators to fly an abbreviated schedule with just 20 planes - less than a third of its former strength - and cancelled all international flights.