Mallya Seals Diageo Deal but Kingfisher Future Uncertain

Diageo has agreed to buy a majority stake in United Spirits Ltd, controlled by Vijay Mallya, for $2.1 billion, or Rs 11,000 crore, fuelling a push by the world’s biggest spirits group into fast-growing markets. However, the fate of his Kingfisher Airlines was not clear as Mallya chose to delink the United Spirits sale with…

DGCA Suspends Kingfisher License

Aviation regulator DGCA sealed the fate of debt-ridden carrier Kingfisher Airlines by suspending its licence to fly. The Directorate General of Civil Aviation’s suspension order stated the decision was taken after the airline failed to come up with a concrete plan of financial and operational revival. Citing that the airline had not addressed “any of…