Kingfisher Airlines to lose operating license
Skift Take
Without providing information on new financing, Kingfisher's operating license will expire, although it can seek reinstatement if the airline can find an investor.
Kingfisher Airlines Ltd.’s operating license will lapse tonight, after the grounded Indian carrier failed to convince authorities it has enough funds to restart operations following five straight years of losses.
The carrier can seek to renew the license within two years, an aviation ministry official, who declined to be identified citing rules, said. A revival plan the airline submitted to the nation’s aviation regulator last week wasn’t backed by details of funding, Civil Aviation Minister Ajit Singh said Dec. 26.
Kingfisher, controlled by liquor tycoon Vijay Mallya,
