Mallya’s airline has license suspended

Indian aviation regulator DGCA has suspended the licence of Vijay Mallya’s carrier, Kingfisher Airlines.

The license has been suspended because the management has failed to present a credible revival plan and will remain in place until the carrier can present a convincing financial plan for its future.

The airline is currently $1.4 billion in debt and has never turned a profit since it commenced operations in 2005.