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Kingfisher faces repossessions
15 November 2011
The Indian airline is at risk of a number of its fleet being repossessions as doubts over its future arise.
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Kingfisher Airlines
Financiers are looking to repossess aircraft from Kingfisher Airlines according to two knowledgeable sources have confirmed. Lenders are concerned that the airline will not be able to meet its debt obligations. Kingfisher's outstanding debt stands at about $1.4 billion. The sources also say there are concerns about the airline's short term cash flow.
As a cost saving measure, the carrier said that it would cancel flights last week.
Today the Indian airline reported a loss of Rs46.9 lahks($93 million) in its Q2FY2012 results, compared to Rs23.1 lahks...
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