Kingfisher Airlines confirms it will cut its international routes and that investment from a foreign airline is on the horizon.
In a statement, the carrier announced: “We are curtailing our wide-body overseas operations that are bleeding heavily. To this end we have already returned one Airbus A330-200 to its lessor in the UK. Positive and immediate action is being taken on all fronts to cut costs.”
Kingfisher did not specify which destinations would be dropped or when these cuts would happen in its statement. However, according to industry website airlineroute.net, the carrier’s GDS system shows that some flights have already ceased to operate.
So far, the carrier has already stopped operating flights from Delhi to London Heathrow (as was predicted here earlier), from Mumbai to Singapore and from Mumbai to Hong Kong. On March 15, the carrier will cease its five weekly services between Delhi and Hong Kong.
Then, on March 25, Kingfisher will stop operating daily service from Delhi to Bangkok, Dubai, Hong Kong and Kathmandu; from Mumbai to Bangkok and Dubai; from Bangalore to Dubai; and from Chennai to Colombo. Finally, on April 10, the carrier will no longer operate the Mumbai-London route.
In an official statement, which bemoans the wide “sensational speculation and assumptions” about the airline's troubles, Kingfisher confirmed “there is an interest from perspectives” in terms of possible foreign capital coming in, but as things stand it will have to stay within the existing Foreign Direct Investment (FDI) limit of 49 per cent and be subject to regulatory approval.
Meanwhile British Airways has suspended its codeshare agreement with Kingfisher, stating:
"Kingfisher Airlines are undergoing a financial restructure and are committed in joining the Oneworld Alliance. British Airways continues to work closely with Kingfisher and are looking forward to reinstating the codeshare and welcoming them into Oneworld at the appropriate time."
For more information, visit www.flykingfisher.com
Alisha Haridasani
