Kingfisher Airlines slides 5%; hits lower circuit

Tags: Stock Market
Shares of Kingfisher Airlines continued its downslide on the bourses today and tanked a further five per cent after the government withdrew international bilateral traffic rights and domestic slots of Kingfisher Airlines.

Spelling more trouble for beleaguered Kingfisher Airlines, the government on February 25 announced the withdrawal of all domestic and international flying slots of the grounded carrier with immediate effect and decided to allot them to other Indian airlines.

Shares of Kingfisher Airlines fell as much as five per cent on the bourses today and got stuck in the lower circuit limit of Rs 10.21 on the BSE.

The stock had witnessed similar fate yesterday, when the company had fallen by 5 per cent to hit an intra-day low of Rs 10.74.

Flying or airport slots are rights allocated to a scheduled airline by an airport operator or government agency, granting the slot owner the right to schedule a landing or departure during a specific time period.

The withdrawal of these slots would make available around 25,000 seats per week for use by other Indian carriers to eight countries -- the UK, the UAE, Thailand, Nepal, Bangladesh, Sri Lanka, Hong Kong and Singapore.

Similarly, the government also decided to withdraw the domestic slots which were allocated to Kingfisher at different airports across the country to mount domestic flights.

The Airports Authority of India (AAI) has been directed to make these slots available to other domestic carriers as per their demand.


  • Monetary policy review needs to look beyond key policy rate

    After changes in the interest rate cycle direction, expectation of some action on rates is high before every monetary policy review of the Reserve Ban


Stay informed on our latest news!


Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs


Arun Kumar Jain

India in a new age work order

There are three broad categories of people in the world ...

Rajgopal Nidamboor

The balancing act of nature

It’s a fact of modern life that you and I ...

Dharmendra Khandal

For a lark, let's do something serious finally

It’s a sight to behold. As you drive through a ...


William D. Green

Chairman & CEO, Accenture