Kingfisher Airlines to cancel some Kolkata flights
Kingfisher Airlines has asked its travel agents to stop bookings on its Delhi-Kolkata route for four days starting February 25
An embattled Kingfisher Airlines on Friday decided to halt all bookings to Kolkata beginning February 25 as employees in that city went on strike over non-payment of salaries and the possibility of a shutdown of Kolkata operations.
Bookings for the Delhi-Kolkata route, which has one flight daily, have been halted for four days from February 25 through February 28. Kingfisher Airlines has asked travel agents to halt bookings post February 25 to the state capital.
The airline posted a Rs 444 crore loss for the quarter ended December 31, 2011. The company's accumulated debt is estimated to be over Rs 6,000 crore.
Even as the pressure mounted on the debt-laden company to clear its dues, the firm’s auditors auditors BK Ramadhayani and Co said in report on Friday that the carrier might have to stop flying if it could not raise more capital.
Kingfisher is currently operating as a going concern. This means it would not go bankrupt or be liquidated in the near future. However, the auditor expressed concern that it needs capital infusion to retain the status of a going concern.
