Debt-laden air carrier Kingfisher Airlines tanked 20% to Rs 21.40 on reports that the income tax officials have frozen the company’s bank accounts affecting the airline’s ability to make payments.
The Directorate General of Civil Aviation (DGCA), the aviation regulator, summoned the Sanjay Aggarwal, the chief executive officer (CEO) of the airline for an emergency meeting on Tuesday and said the company was not following the revival plan submitted to the regulator, the report suggests.
A combined around one million shares have changed hands on the counter in opening deals on both the exchanges.