Kingfisher cuts international departures as debts mount

Kingfisher cuts international departures as debts mount

Kingfisher Airlines has confirmed it will suspender overseas routes as it seeks to refinance its operations and stave off bankruptcy.

However, the Indian carrier will hold on to its licence and continue to operate domestic departures, it was confirmed earlier.

Owned by billionaire Vijay Mallya, the carrier offers flights to Europe, and countries in Asia.

Kingfisher had been expected to join the oneworld airline alliance earlier this year, but this was postponed as financial troubles mounted.

Banks are presently refusing to lend more money to the stricken carrier, with the Indian government said to be considering an intervention. 

Kingfisher owes money to airports, tax authorities, lenders and its own staff.

Along with international departures, including those to London Heathrow, Kingfisher also confirmed earlier domestic flight would be cut back to just 125 a day.

The carrier had operated nearly 350 a day departures at the end of 2012.

Fights will be suspended from April 10th.