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Kingfisher Airlines to curtail overseas operations
March 14, 2012 / 3:22 AM / 6 years ago

Kingfisher Airlines to curtail overseas operations

March 14 (Reuters) - India’s Kingfisher Airlines said it would curtail its overseas operations as the debt-laden carrier struggles with a cash crunch and mounting losses.

“We would like to confirm that we are curtailing our wide body overseas operations that are bleeding heavily,” the airline said in a statement on Wednesday, adding that it had already returned one Airbus to its UK lessor as a result.

Kingfisher has been struggling to continue its normal operations as a heavy debt load, higher jet fuel costs, stiff competition and low fares severely hurt its ability to raise funds.

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