NEW DELHI, Feb 25 (Reuters) - India said it will give away
Kingfisher Airlines' slots and foreign flying rights
to other operators in the latest blow to the grounded carrier.
Kingfisher, controlled by liquor baron Vijay Mallya, has
been halted due to a cash crunch, and lenders are trying to
recover $1.4 billion of loans in default.
Kingfisher, which saw its flying license expire at the end
of last year, has two years from then to apply for a renewal.
But with lenders, airports, and banks looking to recover their
dues, and with its slots going to rivals, a comeback could prove
extremely difficult for the airline, once India's no.2 carrier.
India's civil aviation ministry said in a statement it will
make the slots and flying permits available to other airlines.
Kingfisher, whose planes have been idle since October, flew
to Hong Kong, Singapore, Thailand , United Kingdom, UAE among
Indian carriers will now have an additional 25,000 seats
available each week to fly to these countries, the statement
Kingfisher posted a 7.55-billion-rupee ($139.30 million)
loss in the three months to December 31 as its planes sat idle,
and regulators rebuffed its revival plans.
($1 = 54.2000 Indian rupees)
(Reporting by Anurag Kotoky and C.K Nayak; Editing by Louise