India’s Kingfisher Airlines in crisis mode
Nov. 14, 2011, New Delhi, India - Media reports say India's privately owned Kingfisher
Airlines has been forced to cancel dozens of flights amid a burgeoning crisis at the country's second-largest airline.
The Press Trust of India reported Kingfisher cancelled more than 120 flights this week as pilots and crew called in sick after their October salaries were delayed. The airline says the flights were cancelled because they were reconfiguring planes.
The Economic Times reported Friday that leasing companies want Kingfisher to return their planes after the company defaulted on payments.
Kingfisher is currently struggling under a debt of $1.4 billion and shut down its budget carrier in September after it ran up losses. It is owned by brewery tycoon Vijay Mallya.