todays event

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    The government said it will give away Kingfisher Airlines' slots and foreign flying rights to other operators in the latest blow to the grounded carrier.

    Kingfisher, controlled by liquor baron Vijaya Mallya, has been halted due to a cash crunch, and lenders are trying to recover $1.4 billion of loans in default.

    Kingfisher, which saw its flying licence expire at the end of last year, has two years from then to apply for a renewal. However, with lenders, airports, and banks looking to recover their dues, and with its slots going to rivals, a comeback could prove extremely difficult for the airline, once India's No.2 carrier.