Key Developments: Kingfisher Airlines Ltd (KING.NS)

KING.NS on National Stock Exchange of India

4 May 2015
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Latest Key Developments (Source: Significant Developments)

Kingfisher Airlines Ltd announces CEO resignation
Thursday, 19 Feb 2015 

Kingfisher Airlines Ltd:Considers resignation letter dated Feb. 14 submitted by Sanjay Aggarwal, CEO and has accepted the same with effect from Feb. 14.  Full Article

Kingfisher Airlines Ltd updates on winding up petition filed against Kingfisher Airlines Ltd
Tuesday, 6 Jan 2015 

United Breweries Holdings Ltd:Says that the High Court of Karnataka has admitted 6 Winding Up petitions filed by the unsecured creditors/Bankers of Kingfisher Airlines Ltd by passing an appropriate order in this regard.Says it is in the process of filing an appeal against the aforesaid admission order.  Full Article

UCO Bank identifies Kingfisher Airlines Ltd as wilful defaulter-Business Standard
Tuesday, 28 Oct 2014 

Kingfisher Airlines Ltd:UCO Bank has joined the growing list of lenders to have identified grounded Kingfisher Airlines as a wilful defaulter for non-payment of dues-Business Standard.However, the bank is yet to formally declare the company a wilful defaulter.  Full Article

Kingfisher Airlines Ltd moves Calcutta High Court against United Bank of India's default notice-Business Standard
Wednesday, 9 Jul 2014 

Kingfisher Airlines Ltd:Moved the Calcutta High Court challenging a communication by the United Bank of India that asked its chairman Vijay Mallya and other board members to meet the bank officials for alleged wilful default on payment of dues to the tune of nearly 4.00 bln Indian Rupees-Business Standard.  Full Article

Kingfisher Airlines Ltd Posts INR21.42 Billion Loss-Business Standard
Friday, 31 May 2013 

Business Standard reported that Kingfisher Airlines Ltd which has not flown since last October, reported yet another quarter of loss, and the resumption of operations is still not in sight as it struggles to win regulatory approvals. Kingfisher said net loss widened to INR21.42 billion for its fiscal fourth quarter ending in March, compared with a net loss of INR11.50 billion a year earlier. The Company is estimated to owe about INR140.00 billion to banks, airports and others and its flying licences expired at the end of last year. Kingfisher has twice submitted revival plans to the sector regulator in bids to restart the airline, with parent UB Group committing initial funding, but is yet to win approval. Kingfisher had never made a profit in its eight years of operations.  Full Article

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