Kingfisher tanks 13% as lessors take back 34 aircraft

A combined 19.43 million shares have changed hands on the counter in morning trades

Kingfisher Airlines has tanked 13% to Rs 11.65 on reports that lessors have taken back about 32 aircraft in the past few weeks due to non-payments of rental by the cash-strapped airline.

“Lessors have taken back as many as 34 aircraft from Kingfisher between March and June, owing to non-payment of lease rentals, which stands at around Rs 1,000 crore,” a PTI report suggests.

The stock opened at Rs 13.25 has seen huge volumes in trade thus far. A combined 19.43 million shares have already changed hands on the counter in morning trades, as against an average 19 million shares that were traded daily in past two weeks on the NSE and BSE.