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Airbus (AIR.PA) sold 49 jets in September, but saw its net orders for the year knocked back by the cancellation of jets ordered by India's Kingfisher Airlines. Toulouse-based Airbus canceled 82 outstanding orders for jets for Kingfisher and its Kingfisher Red subsidiary, which had been among its most high-profile customers until the airline owned by drinks tycoon Vijay Mallya collapsed under large debts. Airbus said on Thursday it had won 566 aircraft orders in the first nine months of the year but the net total fell to 380 from 438 a month earlier after 107 cancellations for Kingfisher.
Exiled tycoon Vijay Mallya said on Sunday that Indian authorities trying to recover about $1.4 billion from his collapsed Kingfisher Airlines had no legal grounds for sequestering certain assets in a money laundering case. The Enforcement Directorate (ED) tweeted on Saturday that it had "attached" properties worth 14.11 billion Indian rupees ($210.78 million) in the case involving a loan from state-owned IDBI Bank (IDBI.NS) to Kingfisher to buy properties abroad. The assets were purchased several years before Kingfisher was launched, Mallya said in a statement to the media on Sunday.
Vijay Mallya, the founder of the failed Kingfisher Airlines Ltd. who is now battling creditors, is facing expulsion from the upper house of India’s parliament in the latest move by the government in its ...