Kingfisher Airlines trading suspended

November 08, 2014 16:24
Kingfisher Airlines trading suspended

In a major blow to the liquor baron Vijay Mallya, the National Stock Exchange [NSE] and Bombay Stock Exchange [BSE] announced the suspension of shares trading of Kingfisher Airlines from December 1st for failing to comply with rules on reporting financial results. The company has last reported its financial results for three months ended December 2013 and from then on there was no sound from India's no.2 carrier.

Also the trading of UB Engineering Ltd will be suspended as it failed to report the results for two consecutive quarters. Mallya's Kingfisher Airlines posted huge losses with lack of financial support and has been out of operations since two years.

With this decision, now it is huge task for the Kingfisher Airlines to restart its operation and needs mighty investments. Vijay Mallya remained unavailable to comment on this.

(AW: Vamshi)

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