Kingfisher says flight cuts due to frozen bank accounts

NEW DELHI Mon Feb 20, 2012 6:15pm IST

A passenger aircraft of Kingfisher Airlines is seen in Hyderabad October 15, 2008. REUTERS/Krishnendu Halder/Files

A passenger aircraft of Kingfisher Airlines is seen in Hyderabad October 15, 2008.

Credit: Reuters/Krishnendu Halder/Files

Related Topics

Stocks

   
Priyanka Gandhi Vadra, daughter of Congress party chief Sonia Gandhi, adjusts her flower garlands as she campaigns for her mother during an election meeting at Rae Bareli in Uttar Pradesh April 22, 2014. REUTERS/Pawan Kumar

Election 2014

More than 814 million people — a number larger than the population of Europe — are eligible to vote in the world’s biggest democratic exercise.  Full Coverage 

NEW DELHI (Reuters) - Kingfisher Airlines(KING.NS) said it was forced to cancel some flights in recent days because tax authorities had frozen its bank accounts, hurting its ability to make operational payments.

"We are in dialogue with the tax authorities to agree a payment plan and get the bank accounts unfrozen at the earliest," Kingfisher said in a statement.

Earlier on Monday, The Directorate General of Civil Aviation (DGCA) summoned top executives of Kingfisher to explain the large number of flight cancellations since Saturday, even as the aviation minister ruled out providing any aid to the loss-making carrier.

(Read the main story -- Kingfisher woes mount as govt rules out bailout, click here).

(Reporting by Anurag Kotoky; Editing by Aradhana Aravindan)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Election 2014

Election 2014

Kashmiris wary as Modi challenges for power.  Full Article 

Facebook's Performance

Facebook's Performance

Facebook Q1 revenue grows 72 percent on rising mobile ads.  Full Article 

Earnings Season

Earnings Season

Bharti Infratel Q4 net profit jumps 64 percent.  Full Article 

Monsoon Forecast

Monsoon Forecast

South Asia monsoon seen below-average to average in 2014 - WMO.  Full Article 

Solar Dispute

Solar Dispute

Green groups urge U.S. to drop solar trade case against India.  Full Article 

Oil Imports

Oil Imports

India to make May-July oil payments to Iran - sources.  Full Article 

Rice Exports

Rice Exports

India may cede top rice exporter spot under Southeast Asian price onslaught.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage