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NEW DELHI, Feb 25: India's aviation ministry said on Monday it had withdrawn international flying rights and domestic slots from debt-laden Kingfisher Airlines, making more seats available for rival carriers.
The move follows an announcement by Kingfisher's creditor banks earlier this month that they would start recalling loans — a step which analysts then said could spell the end for the carrier controlled by liquor baron Vijay Mallya.
The government “has decided to withdraw all international bilateral traffic rights allocated to Kingfisher Airlines with immediate effect”, an aviation ministry statement said.—AFP
