Kingfisher Airlines.
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Given Kingfisher Airline's financial problems this year, it doesn't come as a surprise that the Directorate General of Civil Aviation suspended its license today. According to this news report, the suspension will remain in force until the airline submits a concrete and reliable revival plan.
Unfortunately for employees, who still haven't been paid for several months, the airline is not expected to be able to find a way to recommence operations as it's in too much debt. Estimates indicate that it would cost $600-1,000 million to get the airline flying again.
Although Kingfisher Airlines ended up with only a 4% market share, the concern is that its absence will prompt rival airlines to raise airfares. Domestic airfares in India are already currently high due to the festival season and increased demand for flights.
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