Lessors move to reclaim aircraft loaned to Kingfisher

Several aircraft lessors are moving to repossess their aircraft from Kingfisher Airlines for non-payment of lease rentals. The lessors have been negotiating with Kingfisher for the past few days but Kingfisher is now running out of options as it has been unable to raise funds from investors or the markets. Kingfisher chairman Vijay Mallya denied the airline was close to collapse, he told local media: “No shutdown, only ensuring loss minimisation by a flight rationalisation and enhanced revenue through reconfiguration of aircraft.”