Kingfisher Shuts Down up to 18 Flight Routes as Financial Pressures Mount-UPDATE 6

Kingfisher Airlines is shutting down more routes

UPDATE 6 – Mar 3, 2012 5:00 AM GMT:

Three outbound flights that were part of Kingfisher’s newly revised schedule were cancelled yesterday from Mumbai: Singapore, Kochi and Ahmedabad. Reports from Mumbai say Kingfisher staff were trying in earnest to find flights for those affected by the cancellations.

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UPDATE 5 – Feb 21, 2012 3:30 PM GMT:

There are reports that passengers at Kolkata Airport have created a ‘disturbance’ over frustration of their flights being cancelled. We have yet to confirm this.

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UPDATE 4 – Feb 21, 2012 6:00 AM GMT:

Some 30 Kingfisher flights have been cancelled Tuesday morning…many from Mumbai and Kolkata we’re learning and four from Delhi leaving passengers stranded. CEO Vijay Mallya and other Kingfisher execs are to meet with aviation regulator DGCA today to explain the airline’s cancellations.

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UPDATE 3 – Feb 21, 2012 1:00 AM GMT:

There’s been rampant speculation across the internet that Kingfisher could shut down completely as soon as tomorrow. We don’t expect that to happen, at least not yet. The government may step in for some sort of bailout. They DO NOT want Kingfisher to shut down. Stay tuned…

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UPDATE 2 – Feb. 20, 2012:

Kingfisher’s bank accounts have been frozen by India’s tax authorities and today the airline has been ordered to appear before the aviation authority to explain all their recent cancellations.

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UPDATE:

The Times of India is reporting that the Directorate General of Civil Aviation (DGCA) is considering action and sanctions against Kingfisher due to their sudden route cancellations:

“We have received reports about large-scale cancellations. They are bound to inform us when they cut their schedule. But they have not done so,” DGCA chief E K Bharat Bhushan told PTI.

‘Under Rule 140(A) of the Aircraft Rules, 1937, operators require to have prior approval of DGCA to curtail their flight schedules.’

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Yesterday financially battered Kingfisher Airlines cancelled as many as 18 flight routes as the carrier continues to buckle under its mountain of debts and unpaid bills:

‘Travel agents and airport sources said at least five flights from Delhi, including three to Pune, and another six flights from Mumbai were cancelled today. There was no flight operation from Kolkata which has seven daily flights, including one each to Dhaka and Bangkok.’

Kingfisher also has cancelled all its flights to Singapore, Bangkok, Bangalore and shut down operations in the city of Kolkata.

The airline unofficially indicated some of these routes may be opened back up in the next 2 weeks but nothing official has been confirmed.

Reports say that airline employees walked out in Kolkata when they were not paid leaving passengers stranded. However, this has not been confirmed.

CEO Vijay Mallya reportedly has still not received additional funding to keep the airline in business long-term and was quoted on the following:

“…the company has incurred substantial losses and its net worth has been eroded”.

Travel agents in the region are warning passengers to be ‘cautious’ when booking a flight on Kingfisher.

The bottom line is either Kingfisher gets a funding lifeline in the next 60 days or they are done. Let’s hope that they do. It’s an awful situation with thousands of jobs at stake.

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