Mumbai: Kingfisher Airlines (KFA) fell 4.9 percent, down almost by its daily limit move of 5 percent, after cancelling all flights through Thursday because of labour unrest and being ordered to submit a revival plan before it can fly again.

Shares in Kingfisher were down 4.9 percent as of 0346 GMT on Wednesday, after slumping nearly 5 percent in each of the previous two sessions.

The airlines declared a partial lockout on Monday with immediate effect and suspended till Thursday flight operations which came to a grinding halt following a strike by a section of its employees.

Before commencing legal action, the airline said it will make efforts to continue to engage with striking employees to persuade them not to indulge in any intimidatory tactics.

The management earlier in the day warned of a temporary shutdown, citing lack of funds to pay salaries even for a month.

(Agencies)

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