Kingfisher stock grounded, as lessor flies away with 34 aircrafts

Shares of Kingfisher Airlines slumped almost 8% today, after news reports revealed that the company's lessor had taken back 34 planes.

The shares of the company were down almost 8% at Rs 12.35 on the Bombay Stock Exchange.

PTI had reported on Tuesday that Kingfisher Airlines had defaulted on lease rentals of around Rs.1,000 crores and lessors had taken back 34 aircraft.

Besides, another 15 aircraft of the company were also aground due to want of spares. The airline was now left with only 15 planes to carry out its operations, according to reports from PTI.

GoodReturns.in