Last Friday, DGCA issued a show cause notice to the airline why its operating permit should not be suspended.
The striking pilots are now planning to move the labour court against the airline for failing to pay their backlog.
India's foreign direct investment policy allows foreign investors to pick up 49 per cent stake in domestic airlines, but foreign airlines are not permitted.
The SBI chief said the bank was comfortable on the liquidity front.
While guarantees given by Mallya fell from Rs 6,156 crore (Rs 61.56 billion) in the previous year 2010-11, the guarantees provided by Kingfisher's holding and associate companies rose from Rs 8,863 crore (Rs 88.63 billion) to Rs 8,926 crore (Rs 89.26 billion) in this period.
Reacting to the buzz, shares of the grounded-carrier tanked 4.86 per cent to Rs 2.74 -- its lower circuit limit on the BSE.
Meet Bruna Rodrigues, Reyna Leyva, Alina Ray, Pallavi Das and Radhika Sahay.
Nine flights from Bengaluru and at least three from Delhi were cancelled till this afternoon as several pilots did not report for duty, airline officials said.
A partial withdrawal of flights by Kingfisher Airlines has led to a more than 100 per cent rise in spot fares on key metro routes.
Kingfisher Airlines says its net loss has fallen by 39.54 per cent for the quarter ended December 31, 2010.
Having failed to receive their May salary as assured by the Kingfisher management, the airline pilots have now threatened to approach DGCA if they did not meet the commitment by today even as the regulator maintained that the issue is out of its purview.
Bankers and the senior management are expected to convene another meeting later this month.
Kingfisher Airline employees, who have not received their May salary despite an assurance from the airline management, are likely to chalk out an action plan next week, if they do not receive their dues by November 17.
Kingfisher Airlines has objected to being identified as a 'wilful defaulter' by state-run UCO Bank.
In a major cost-cutting exercise, private sector air-carrier Kingfisher Airlines is believed to be considering about 2,000 job cuts and longer working hours for its staff, among various options.
UB's beer brand will take on Bacardi's Breezer in the flavoured alcoholic beverage market.
Banks have been struggling hard to recover dues from grounded Kingfisher Air.
Kingfisher will be available in markets in France, Finland, Portugal and Canada by the end of this year or early next year.
Srei Infra Finance group chief financial officer Sanjeev K Sancheti described the asset as a good buy as it is a fully secured debt.
Private carrier Kingfisher Airlines plans to raise up to $175 million (about Rs 840 crore) before March next year through rights issue and global depository receipts (GDR).
Facing serious financial turbulence, Kingfisher Airlines has sought government help for a bailout even as it continued its flight curtailment spree for the fifth consecutive day on Friday and its stocks plummeted by over 19 per cent to an all-time low but recovered slightly later.
A drunk British socialite reportedly stripped to her knickers and cavorted with a male passenger in full view of fellow travellers on a Kingfisher Airlines flight from Bangalore to Heathrow.
As industrialist Vijay Mallya fights his wilful defaulter tag, former CAG Vinod Rai has said Kingfisher Airlines' loan default is just a "trickle" and the overall problem of huge bad loans at public sector banks can be blamed on 'cronies' using connections to borrow money.
Trouble for cash-strapped Kingfisher Airlines again erupted today with at least 30 flights either being cancelled or clubbed as several pilots and other staffers failed to report for work to protest delays in salary payments.
The Kingfisher-Air Deccan group will be the largest domestic airline with a fleet of 71 aircraft, including 41 Airbuses and 30 ATRs.
Government may have ruled out a bailout package for Kingfisher, but is likely to make sure that the carrier does not shut up shop.
A section of Kingfisher pilots have reported sick in protest against non-payment of salaries.
Claiming that their salaries had still not been cleared, a section of Kingfisher Airlines staff including engineers and pilots is mulling the option of moving the Labour Court to expedite settlement of their dues.
Needless to say, Kingfisher is planning to deploy all foreign cabin crew on its US flights.
Kingfisher Airlines on Wednesday said it has taken off flights which have been cancelled in a "planned manner" from its booking site following complaints of hardships to passengers.
Last Tuesday, chairman of the crisis-hit airline Vijay Mallya assured his employees that their salaries would be disbursed in a staggered manner from April 4 to 10.
Over the last week we've been bringing you peeks into the soon-to-be-launched Kingfisher Swimsuit Calendar. Here's one more set of pictures of the sexy models on the beaches of Sri Lanka.
Crisis-ridden Kingfisher Airlines would come up with a recovery road map in three days, chairman Vijay Mallya promised on Thursday.
The airlines sources confirmed the development and said the management is negotiating with the developers to resolve the deadlock.
Debt-ridden Kingfisher Airlines today reported that its net loss doubled to Rs 468.66 crore (Rs 4.68 billion) in the quarter ended September 30, 2011, as higher fuel prices depressed operating margins.
Analysts say piecemeal bailouts won't work, serious cash infusion is needed.
From a valuation of Rs 2,500 crore (Rs 25 billion) two years ago, the brand on Wednesday has come to nought.
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