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India’s Kingfisher cuts down on flights

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Kingfisher airline.

India’s Kingfisher airline is trying to downplay speculation that it is cutting down services because of financial difficulties, saying recent cancellations resulted from bird hits and other disruptions, Bloomberg News reports.

As many as 32 flights a day were canceled since Feb. 17 because of the disruptions, the Bangalore-based company said in an e-mailed statement during the weekend. The carrier, which has debt of $1.3 billion and is seeking more capital, said it will resume its full schedule of 240 flights within four days, according to the news wire.

Kingfisher, whose stock has fallen 35.4 percent in the last year, reduced operations as it seeks to raise funds after India’s jet fuel costs and a price war pushed the airline to a wider third-quarter loss. In November, the carrier reduced daily flights to 300 from 340, ended its budget services and deferred plane deliveries.

The Editorial Staff of TravelingReporter.com.