Kingfisher Airlines To Appeal UK Creditor's Winding-Up Plea

Grounded carrier Kingfisher Airlines says it will appeal against a court order accepting a winding-up petition by a UK-based creditor. In a statement, Kingfisher says it will appeal against Karnataka High Court's order admitting the petition by Aerotron. The airline, owned by Vijay Mallya and which has not flown for more than a year, said Aerotron was an unsecured creditor. Kingfisher Airlines reportedly owes more than $1bn to Indian state-run lenders, and hundreds of millions of dollars more to airports and the tax office among others. The airline has said several times previously that it was trying to arrange funds and revive operations, but has had little success so far. India does not have a formal bankruptcy process and liquidation pleas could take years before a final verdict is given.

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