KFA shares dive after licence suspension

October 22, 2012 21:19

Shares of Vijay Mallya-led Kingfisher Airlines got hammered on Monday after the aviation regulator suspended its flying licence last weekend, even as the airline made a last ditch attempt to revive itself by offering up to three installments of its employees salary dues.

The stock fell 4.8% at R10.9 to touch the lower circuit soon after opening trade both on the Bombay Stock Exchange (BSE) and the National Stock Exchange, and industry experts said it could fall further in the coming weeks. The lower circuit prevents further trades in the stock during the day at a lower price.

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