India's Kingfisher Airlines and oneworld® today agreed to put the airline's entry into the alliance on hold to give it time to strengthen its financial position.
oneworld CEO Bruce Ashby said: "These are turbulent times for the airline industry in India and many other parts of the world. We have been working closely with Kingfisher Airlines over the past months and it has become increasingly clear recently that the airline needs more time to resolve the financial issues it is confronting before it can be welcomed into oneworld.
"We wish it well during this process and will work with Kingfisher Airlines with the aim of setting a new joining date once it is through this current period of turbulence."
Kingfisher Airlines Chairman Vijay Mallya added: "In light of the many priorities centred around Kingfisher Airlines' recapitalisation efforts, we felt it prudent to defer our entry into the alliance for a little while. This will allow us the opportunity to focus on the issues at hand and we look forward to being part of the oneworld alliance very shortly."