Kingfisher Airlines has locked in 5% lower circuit at Rs 10.90 for third day in a row after the aviation regulator temporarily suspended the airline's operating licence.
Director General of Civil Aviation (DGCA) on Saturday suspended the licence of Kingfisher Airlines after the airline failed to submit a concrete revival plan.
In a clarification the company in a filing said that this is not a cancellation but a temporary suspension which is valid only till such time that we submit a concrete and reliable revival plan to the satisfaction of DGCA.
A combined 133,918 shares have changed hands on the counter in opening trades and there are pending sell orders for 9.72 million shares on the BSE and NSE.
