Kingfisher Airlines to stop international routesOctober 14th, 2008 - 11:07 am ICT by Amrit Rashmisrisethi
Kingfisher is likely to stop its international operations after seeing the financial crisis that had hit the Indian industry. The crew and the expat pilots have been waiting since March for international operations but it is known they might be laid-off by this decision.
Kingfisher, which took a more than $200 million loan from ICICI Bank toward operational expenses, has come under pressure with the current crisis leaving it with no option but to defer plans to raise funds from equity markets.
The daily flights with A330 from Bangalore to London Heathrow had an average of 35 passengers per flight last month and scheduled to start Mumbai-London dailies October 26.
Earlier Kingfisher also announced to fly as the first international direct flights to San Francisco from Bangalore on the newly purchased A340-500 and Two of the new A340-500s have been leased. More than 300 employees being laid off. Meanwhile Jet Airways announced to discontinue its Mumbai-Shanghai-San Francisco route on Jan. 13. The airline said the change is due mostly to a downturn in the U.S. and U.K. economies, and it will be “focusing more on its established international gateways and routes.”
Kingfisher Airlines has launched three new routes connecting Nanded and Latur with Mumbai. The flights of the new routes started from 06-Oct-08.