Kingfisher Airlines has plunged 13% to Rs 17.50, also its 52-week low on reports that the aviation regulator Directorate General of Civil Aviation (DGCA) on Monday summoned Vijay Mallya, the owner of debt-laden private carrier, to seek an explanation on why his carrier can't stick to its revised schedule.
“The DGCA mulled cancellation of Kingfisher's flying permit after the airline on Monday submitted to it the summer flight schedule with 15 to 16 aircraft as against 28 planes submitted last month," the report suggests.
A combined 2.82 million shares have changed hands on the counter on opening deals on both the exchanges.
