Chairman of Kingfisher Airlines, Vijay Mallya has announced stoppage of Kingfisher Red, its low cost airline carrier. Analysts consider the resolution a little strange as Kingfisher Airlines had a market of 70% from the low cost flight section. The announcement led to a rise in stocks, but concluded the day 1.2% less.

“We don’t believe in low cost operations anymore,” said Mallya, who began Kingfisher Red after he purchased Deccan Airlines. 

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