India8217;s No. 2 carrier Kingfisher Airlines,controlled by liquor baron,the flamboyant Vijay Mallya,plans to cancel 31 flights daily till Nov 19,including four international flights to Bangkok it was reported today.
The cash-strapped carrier,which has not reported a profit ever since it got listed and has undergone debt restructuring once,has decided to cancel 27 domestic flights without specifying a reason.
The cancellations include top markets like Delhi,Mumbai,Bangalore,Chennai,Kolkata and Hyderabad.
About a dozen of Kingfisher8217;s aircraft are already out of service because of maintenance and other issues,the report said.
Kingfisher had cancelled around 20 flights from Delhi on Monday,due to a lack of aircraft,a Delhi airport official who declined to be named said.
Kingfisher Airlines officials and a spokesman were not immediately available for comment when contacted.
On Oct. 13,the airline had faced a disruption in flights after state-run oil marketer HPCL temporarily halted fuel supplies,citing non-payment of dues.
Last week,Kingfisher said it has sought further cushion from banks to ease its debt burden,but denied it was seeking another debt restructuring.
Earlier,Kingfisher8217;s auditors raised questions about its viability and said it needed capital infusion to survive.
Shares in Kingfisher,valued at about 240 million,have lost 64 percent of its value so far this year. At 10:45 a.m. 0515 GMT,the stock was down 0.85 percent at 23.45 rupees in a choppy Mumbai market.