Kingfisher Airlines crisis worsens as shares fall

November 11, 2011 19:01

Kingfisher Airlines cancelled more flights on Friday and its shares hit a record low amid continuing debt fears, reports bbc.co.uk.

Thousands of passengers have been hit by hundreds of cancellations this week. India's second-biggest airline is about $1.2bn in debt and struggling to raise cash. Founder and part-owner Vijay Mallya insists the airline will not close but is just cutting losses by rationalising flights and reconfiguring airlines.

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