While 22 flights of the airline were cancelled from Delhi, nine were cancelled from Mumbai, sources said.
The Kingfisher-Air Deccan group will be the largest domestic airline with a fleet of 71 aircraft, including 41 Airbuses and 30 ATRs.
A section of pilots of Kingfisher Airlines on Tuesday went on a strike over non-payment of salary and other dues for the past five months, forcing cancellation of five flights.
Kingfisher said the price was arrived in accordance with the pricing guidelines prescribed under the Securities and Exchange Board of India, which is the average of the past six months' price, 30 days prior to the relevant conversion date.
Vijay Mallya-led Kingfisher Training Academy plans to set up 25 centres by 2010 in the country."We plan to set up 25 centres nationally by 2010. We may be able to do that even earlier than 2010. In the next two months itself we will set up 12 centres," Rajesh Verma, executive vice-president, Kingfisher Airlines said.
Aviation companies plan to join hands for importing aviation turbine fuel (ATF) in a bid to bring down their fuel bills.
The carrier is loaded by debt of as much as Rs 7,000 crore.
Vijay Mallya, chairman and chief executive officer of Kingfisher Airlines Limited was in Washington, DC on Monday to sign a contract worth $300 million with Pratt & Whitney
Kingfisher Airlines, the two-year-old private airline promoted by liquor conglomerate UB, has decided to replace its pilots' gross salaries with a two-part pay structure based on the number of hours they fly.
The government has de-frozen the bank accounts of debt-ridden Kingfisher Airlines and Air India after the two air carriers made part-payment of their service tax dues.
Flights to the UK and other European destinations of Air India, Jet Airways and Kingfisher Airlines remained cancelled for the sixth consecutive day today in the wake of huge clouds of volcanic ash emanating from Iceland.
In a major clampdown for non-compliance of Listing Agreement, top exchanges BSE and NSE announced suspension of trading in shares of Kingfisher Airlines and another group firm, UB Engineering, from next month.
The 12,350 sq mt Villa was once used by Mallya to host lavish parties in his 'good times'.
To use proceeds from United Spirits stake sale.
SBI is likely to register more FIRs to bring into the ambit of probe the additional Rs 3,100 crore loans from 10 other nationalised banks on which the company has allegedly defaulted.
For the October-December quarter, Kingfisher reported a net loss of Rs 822.42 crore (Rs 8.22 billion).
About 200 engineers reported sick in April protesting delay in salaries.
Air India and Jet would, however, operate their flights to the US and Canada by taking a diversion, sources in the airlines said.
The company's exposure relating to Kingfisher Airlines is under various accounts including corporate guarantees to banks.
Most lenders to the airline have already classified the account as an NPA.
The airline, which declared a partial lockout on Tuesday, has said it will start flying again from October 5.
The discrepancy was pointed out by the finance ministry in the light of changes in foreign direct investment norms, as specified in Press Note II issued earlier this year, while considering the company's proposal to raise Rs 708 crore (Rs 7.08 billion) through fully convertible warrants. Prior to the Press Note II, the FDI component in Kingfisher Airline was just 16.45 per cent.
SBI has already exceeded the exposure limit of Rs 1,436.1 crore (Rs 14.36 billion) in Kingfisher.
The GVK Group-run MIAL issued a notice to the airline on Thursday.
The notice for clearing the dues, served 10 days ago, gave the airliner 7 days time to make the payment but it has not yet responded, Mumbai International Airport Limited sources told PTI on Monday.
The base price for the property was set at Rs 150 crore (Rs 1.5 billion).
Kingfisher House is one of the prime real estates of the airline.
Jet's supremacy has now been challenged by a nimble and aggressive Kingfisher which, in just two years and following Mallya's buyout of Air Deccan, is commanding the same market share as Jet Airways and Jetlite.
Weighed down by rising crude prices, Vijay Mallya-promoted Kingfisher Airlines is in negotiations with international carriers to sell two of the five A340-500 aircraft it had committed to buy from Airbus last year. The airline may also defer taking deliveries of 29 narrow-bodied A320s, airline sources said.
Lenders to Kingfisher Airlines, whose combined exposure of nearly Rs 7,500 crore is at risk, have said they will go in for recovery measures only as the last resort and expressed hope that its promoters will be able to find an investor and resume operations.
Management claims that the talks are moving in the right direction.
SBI has over Rs 1,500-crore (Rs 15-billion) of exposure to Kingfisher.
The airline has suspended all operations till Thursday.
The airline on Thursday night extended its partial lockout till October 12 as talks between its management and employees failed to break the deadlock over non-payment of salaries for the last seven months.
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.
Though the UB Group chairman didn't name anybody, some of these associates could be the owners of Balaji Distilleries, whose breweries and distilleries were acquired by UB Group companies -- United Spirits and United Breweries -- during the last financial year.
Kingfisher Airlines, owned by liquor baron Vijay Mallya, has run up a debt of Rs 4,000 crore. The airline, which is merging with Deccan Aviation, is understood to have a top line of around Rs 3,000 crore and is expected to make losses of Rs 900 crore on a yearly basis. This is in addition to the losses of around Rs 650 crore suffered by Deccan Aviation.
Earlier this year, Mallya's UB Group had acquired 26 per cent stake in low-cost carrier Deccan Aviation for Rs 550 crore (Rs 5.5 billion). The Group has now scaled up its stake in the budget airline to 46 per cent by buying shares in an open offer.
On Saturday, bankers met the KFA management in yet another inconclusive meeting.
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