The Nifty posted its biggest percentage fall in a year on Thursday, as the prospect of an end to the U.S. stimulus programme and a weak China manufacturing survey sparked concerns foreign investors would end their recent buying spree. Full Article
Government to pay state-run fuel retailers $8.1 billion in Q4 oil subsidy. Full Article
Confused while buying stocks? Get buy, sell or hold recommendations from VantageTrade. Full Coverage
Kingfisher says flight cuts due to frozen bank accounts
NEW DELHI |
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)
- Tweet this
- Share this
- Digg this