Stocks

Kingfisher Airlines stock tanks 4.9%

Our Bureau Chennai | Updated on March 12, 2018 Published on October 03, 2012

Stock of cash-strapped Kingfisher Airlines fell 4.89 per cent in early trade. The stock is down almost by its daily limit move of 5 per cent, after it declared lockout till Thursday.

Uncertainty prevails over when Kingfisher Airlines will restart operations. The airline's pilots and engineers claim they have no plans of rejoining work. They have been on strike for the past few days. However, the airline has said that it will take to the skies on Friday.

Kingfisher will have to get DGCA approval for its operational plans before it is allowed to restart operations.

At 9.40 a.m., shares of the airline were down 4.89 per cent at Rs 14.60 on Wednesday. The company's stock hit the lower circuit in each of the previous two sessions.

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Published on October 03, 2012
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