Kingfisher Airlines is trading lower by 4% at Rs 17.15 ahead of the Directorate General of Civil Aviation (DGCA) report which may be released later today.
According to the media reports, civil aviation minister Ajit Singh has warned Vijay Mallya, the promoter of the private sector carrier to pay his dues in order to keep flying.
Kingfisher has a total debt of about Rs 7,000 crore and accumulated losses of about Rs 6,000 crores. The financial crunch has hit Kingfisher's operations with dozens of flights being cancelled, added report.
Kingfisher stock has plunged 32% in past one month on the Bombay Stock Exchange (BSE), compared to 5% fall in the benchmark index Sensex. A combined 3.2 million shares have changed hands on the counter so far on the NSE and BSE.
