Hello,
Two major airlines-Naresh Goyal-promoted Jet Airways and liquor tycoon Vijay Mallya's Kingfisher-tried to attract investors during the year, but failed. And auditors for both raised viability concerns as they ran up losses and promoters struggled to raise funds to run the operations.
Kingfisher, in fact, exited the competitive low-cost segment and cut 40% of its 370 daily flights to stay afloat even as it dropped to fifth place in market share in November from being No. 2 till two months earlier.
Thanks
rv Peterborough