The plight of India’s Kingfisher Airlines has gone from worse to terrible with its lessors taking back 34 aircraft for non-payment of lease fees.
Media reports from India say the aircraft were taken back from March to June.
Kingfisher Airlines is in dire financial straits and has drastically slashed its operations over the last six months.
The airline, which is part of flamboyant liquor baron Vijay Mallya’s business empire, has been unable to pay employees, suppliers, banks and the taxes it owes to the government.
Kingfisher’s financial situation is said to be so hopeless that it can’t even afford to pay for spare parts leading to 15 aircraft lying idle.
The airline is operating with just 15 aircraft.
Kingfisher Airlines has never posted a profit since its inception in 2003.
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