Kingfisher Airlines is sinking fast. Consider:
- ATR turbo-prop orders have been canceled, all 38 of them;
- IATA has booted the airline out of its various services for non-payment and sinking financial condition;
- Staff isn’t being paid and as a result, pilots aren’t showing up and flights are being canceled;
- The Indian government has frozen accounts for non-payment of taxes; and
- Aircraft are being repossessed by lessors.
As our affiliate Leeham Co wrote a while back, ATR is one of the big losers. Eventually Airbus will take a hit as well.