DGCA has announced a few days ago that the license of Kingfisher Airlines would stand canceled until further notice, as KFA with its bankrupt condition presently cannot resume its services despite promising the same since November. On the other hand, Aviation Authority of India, one of the lessors mentioned that they have vacated one plane to the grass fields of the airport already at Chennai.
However, it added that KFA whose debt now stands over 15,000 crore rupees, would not be able to take away anything from the hangars that is has been leased by the AAI. The authorities have also granted a short while before they vacate the planes in the leased hangars onto the grass fields. Two more hangars are with the airline and after a while we will vacate them too so that they can be rented out to others. The aircraft won't be allowed to be repossessed by lessors unless we get about Rs 15 crore per plane," the AAI said.
Things take a turn for the worst as per the legal options are being observed to clear the debt which might include the seizure of the personal Airbus A-319 corporate jet owned by Vijay Mallya.