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Kingfisher Could Stop Flying Oct 20  
User currently offlinegonzalo From Chile, joined Aug 2005, 1992 posts, RR: 2
Posted (2 years 1 week 6 days 18 hours ago) and read 13218 times:

I know there are one hundred threads about "the end of Kingfisher", but now the situation looks somber like never before IMHO. Not only the airline is under pressure from the civil aviation authorities ( with many employees waiting 7 months for his payments ), but is making un-forced mistakes like selling tickets in dates when there are not certainty about the operations continues or not. That is just giving another excuse to the authorities against the airline.

http://economictimes.indiatimes.com/...-bookings/articleshow/16723883.cms

Rgds.
G.


80 Knots...V1...Rotate...Gear Up...DC-3 / EMB-110 / Fairchild-227 / Ab318-19-20 / B732 / B763
74 replies: All unread, showing first 25:
 
User currently offlineTC957 From UK - England, joined May 2012, 912 posts, RR: 0
Reply 1, posted (2 years 1 week 6 days 18 hours ago) and read 13167 times:

To quote from the Corinthians - " Oh death, where is thy sting "
The Kingfisher saga is surely the most painful airline failure in recent times. One wonders what effect this has on the rest of VJM's business empire.


User currently offlinegonzalo From Chile, joined Aug 2005, 1992 posts, RR: 2
Reply 2, posted (2 years 1 week 6 days 17 hours ago) and read 12936 times:

Quoting TC957 (Reply 1):
The Kingfisher saga is surely the most painful airline failure in recent times.

I agree, although the Indian government and its effort to favor AI is not irrelevant in this failure IMO.

Rgds.
G.



80 Knots...V1...Rotate...Gear Up...DC-3 / EMB-110 / Fairchild-227 / Ab318-19-20 / B732 / B763
User currently offlinecomorin From United States of America, joined May 2005, 4900 posts, RR: 16
Reply 3, posted (2 years 1 week 6 days 17 hours ago) and read 12853 times:

I feel sorry for Vijay Mallya; he aimed high and failed. Like many an entrepreneur, he started believing in his own BS, and the harsh reckoning is now at hand.

Sadly, this will pretty much wipe him out and dismantle his empire. Nothing worse than becoming poor after being rich. I wish him strength to put up with the schadenfreude and and other indignities to follow..

Too bad he didn't have the Government covering his back like AI. I'm still hoping that IT will find a white knight at the last minute.


User currently offlineaeroblogger From India, joined Dec 2011, 1363 posts, RR: 0
Reply 4, posted (2 years 1 week 6 days 17 hours ago) and read 12772 times:

Kingfisher has stopped flying with effect of last Tuesday....

Quoting gonzalo (Reply 2):
I agree, although the Indian government and its effort to favor AI is not irrelevant in this failure IMO.

Well, please learn the facts before you go running with your opinion. The Indian government hasn't favored AI - have you seen the 787 delay fiasco? Have you seen how GoI wouldn't let AI management resolve labor issues during a strike? Have you seen how corrupt officials in GoI will force Air India to drop profitable routes just so that influential competitors can have a monopoly? Sure, AI can rely on the government to bail them out if things get too bad, but this "favoritism" is something AI would do far better without.

That's not to say that AI or GoI played no part in IT's bankruptcy - AI was just another competitor... And for a rich and influential person like Vijay Mallya (Chairman of Kingfisher), GoI roadblocks don't mean anything.

Kingfisher, incidentally, was favored quite a bit by GoI as well. IT was permitted to use Terminal 1A at BOM, take over prime slots at BOM and DEL without due process, and a whole bunch of other shenanigans. Any sane regulator would have shut IT down months ago, but our regulators are in the pocket of Vijay Mallya, so it's taken 10 months...

As JoeCanuck said on a thread a while back, " For many of us, India is such a complex and bewildering universe, it seems to defy every effort to logically analyse. The machinations involving AI give us a window into that world. " Things which would seem to make sense (AI is favored since it is state-owned) aren't necessarily true on the ground...



Airports 2012: IXE HYD DEL BLR BOM CCU KNU KTM BKK SIN ICN LAX BUR SFO PHX IAH ORD EWR PHL PVD BOS FRA MUC IST
User currently offlinegonzalo From Chile, joined Aug 2005, 1992 posts, RR: 2
Reply 5, posted (2 years 1 week 6 days 17 hours ago) and read 12702 times:

Quoting aeroblogger (Reply 4):
Well, please learn the facts before you go running with your opinion.
Quoting aeroblogger (Reply 4):
As JoeCanuck said on a thread a while back, " For many of us, India is such a complex and bewildering universe, it seems to defy every effort to logically analyse. The machinations involving AI give us a window into that world. " Things which would seem to make sense (AI is favored since it is state-owned) aren't necessarily true on the ground...

I apologize if my comment wasn't informed enough, like you said, the GoI involvement and its actions are not easy to understand or read from the other side of the world, and I probably have only a fraction of the information regarding how the things work in India .
Thank you for your additional info and comments, it is certainly a good help to understand a little better what is happening...

Rgds.

G.



80 Knots...V1...Rotate...Gear Up...DC-3 / EMB-110 / Fairchild-227 / Ab318-19-20 / B732 / B763
User currently offlineaeroblogger From India, joined Dec 2011, 1363 posts, RR: 0
Reply 6, posted (2 years 1 week 6 days 15 hours ago) and read 12434 times:

Quoting comorin (Reply 3):
I feel sorry for Vijay Mallya; he aimed high and failed. Like many an entrepreneur, he started believing in his own BS, and the harsh reckoning is now at hand.

Vijay Mallya is a pompous ass, and deserves everything coming to him. I can't stand him - between his annoying voice, his alcohol-infused party life and the mindless consumerism it stands for, and his total lack of understanding of the industry, any possible sympathy I might have felt is gone. The letters he wrote (or perhaps his 8-year old secretary wrote) to employees, full of empty lies about when paychecks might come are some of the most disgusting documents I've ever seen...

Devesh nailed it in his recent post which underscored the difference between what VJM (and his family) are doing/feeling and what IT employees are going through...

While Sid Mallya is tweeting "Just spent the morning playing volleyball with 12 bikini clad models on the beach...now I understand why people hate me. HA!," a Kingfisher employee's wife is committing suicide due to non-payment of salaries.

Quoting comorin (Reply 3):
Too bad he didn't have the Government covering his back like AI. I'm still hoping that IT will find a white knight at the last minute.

He's had the government covering his back for a long time - GoI owns quite a bit of IT, and IT owes tons of back-dues to the state (fuel, airport fees, taxes, etc.)

And with briefcases to send to whichever Mantri is in charge of MoCA, he's basically had the government covering his back ever since the airline started...

Quoting gonzalo (Reply 5):

I apologize if my comment wasn't informed enough

No need to apologize, and I hope my original statement didn't come across rude...



Airports 2012: IXE HYD DEL BLR BOM CCU KNU KTM BKK SIN ICN LAX BUR SFO PHX IAH ORD EWR PHL PVD BOS FRA MUC IST
User currently offlinecomorin From United States of America, joined May 2005, 4900 posts, RR: 16
Reply 7, posted (2 years 1 week 6 days 15 hours ago) and read 12293 times:

Quoting aeroblogger (Reply 6):
He's had the government covering his back for a long time - GoI owns quite a bit of IT,

Really? I wasn't aware of that.


User currently offlinelegacyins From United States of America, joined Aug 2003, 2090 posts, RR: 0
Reply 8, posted (2 years 1 week 6 days 15 hours ago) and read 12220 times:

Really is a shame. I remember he had plans to serve SFO with their A345. They were even going to build a lounge where the current EK lounge is at SFO.


John@SFO
User currently offlineaeroblogger From India, joined Dec 2011, 1363 posts, RR: 0
Reply 9, posted (2 years 1 week 6 days 15 hours ago) and read 12203 times:

Quoting comorin (Reply 7):
Really? I wasn't aware of that.

SBI and other state owned banks own a significant share of KFA.



Airports 2012: IXE HYD DEL BLR BOM CCU KNU KTM BKK SIN ICN LAX BUR SFO PHX IAH ORD EWR PHL PVD BOS FRA MUC IST
User currently offlinelightsaber From United States of America, joined Jan 2005, 13252 posts, RR: 100
Reply 10, posted (2 years 1 week 6 days 13 hours ago) and read 11965 times:
Support Airliners.net - become a First Class Member!

Has there been any real impact from the IT shutdown? Seriously, they are so small and their yield so low, did any of their markets really notice?

Quoting aeroblogger (Reply 6):

Vijay Mallya is a pompous ass

I don't care how he acts at social events, what I care is he let employees go so long without being paid. For that, a long jail term. I have no idea how well he is financially protected from IT, but I wouldn't shed even a concern if he was bankrupted.

But that won't happen.


As to IT flying again or not, I see ZERO business case in investing in them. Better to start from fresh or invest in another Indian airline.



Lightsaber



Societies that achieve a critical mass of ideas achieve self sustaining growth; others stagnate.
User currently offlineaeroblogger From India, joined Dec 2011, 1363 posts, RR: 0
Reply 11, posted (2 years 1 week 6 days 13 hours ago) and read 11923 times:

Quoting legacyins (Reply 8):
Really is a shame. I remember he had plans to serve SFO with their A345. They were even going to build a lounge where the current EK lounge is at SFO.

Those pipe dreams were exactly that - pipe dreams. The fact that IT wasted time and money even thinking about such a possibility speaks volumes about the quality of management...

If they had actually started the route, they would have been bankrupt long ago..

Quoting lightsaber (Reply 10):
Has there been any real impact from the IT shutdown? Seriously, they are so small and their yield so low, did any of their markets really notice?

The impact was felt early this year... By now, the impact isn't being felt much any more.

Quoting lightsaber (Reply 10):
what I care is he let employees go so long without being paid. For that, a long jail term.

I agree completely!



Airports 2012: IXE HYD DEL BLR BOM CCU KNU KTM BKK SIN ICN LAX BUR SFO PHX IAH ORD EWR PHL PVD BOS FRA MUC IST
User currently offlineVimanav From India, joined Jul 2003, 1516 posts, RR: 14
Reply 12, posted (2 years 1 week 6 days 12 hours ago) and read 11707 times:

We have a Malayalam saying about a squirrel attempting to shit like an elephant, with an unstated reference to the condition of its butt after the effort. VJM tried to expand IT in Emiratesque fashion forgetting that he did not own the country unlike EK's owners. So lo and behold you have him, Ozymandias like, reigning over ruins.

The bigger problem with the man and his progeny is their total inability to read the writing on the wall and still continue with their shenanigans which is making them increasingly, objects of public hatred and ridicule.

Alcohol is a perfect solvent. It dissolves careers, relationships, marriages and families... And now also Airlines !!!

Vimanav

P.S. the last line is not my original, but lifted straight from an SMS I got.



Sarfaroshi kii tamannaa ab hamaare dil mein hai, Dekhnaa hai zor kitnaa baazu-e-qaatil mein hai
User currently offlinelightsaber From United States of America, joined Jan 2005, 13252 posts, RR: 100
Reply 13, posted (2 years 1 week 6 days 12 hours ago) and read 11643 times:
Support Airliners.net - become a First Class Member!

Quoting aeroblogger (Reply 11):
The impact was felt early this year... By now, the impact isn't being felt much any more.

That was my impression. The first downsizing created news about a spike in Indian domestic fares. Now, according to the news I have been reading on Kingfisher, this is the 'slow season' for Indian air travel. So winding down what little remains of IT should be painless.

Quoting Vimanav (Reply 12):
Alcohol is a perfect solvent. It dissolves careers, relationships, marriages and families... And now also Airlines !!!

  

At colleges, it also dissolves clothing too.  

Lightsaber



Societies that achieve a critical mass of ideas achieve self sustaining growth; others stagnate.
User currently offlinebizmark03 From United States of America, joined Mar 2010, 47 posts, RR: 0
Reply 14, posted (2 years 1 week 6 days 11 hours ago) and read 11557 times:

So now that the writing is on the wall, once KFA goes into administration, who will be interested in picking up what bits and pieces of KFA?
Probably some investors are waiting for it to buy out KFA through that route.


User currently offlinelightsaber From United States of America, joined Jan 2005, 13252 posts, RR: 100
Reply 15, posted (2 years 1 week 6 days 11 hours ago) and read 11457 times:
Support Airliners.net - become a First Class Member!

Quoting bizmark03 (Reply 14):
Probably some investors are waiting for it to buy out KFA through that route.

I still don't see the ROI.

Does Kingfisher Airlines own their name, or is Kingfisher a trademark leased from United Breweries?


Lightsaber



Societies that achieve a critical mass of ideas achieve self sustaining growth; others stagnate.
User currently offlineaeroblogger From India, joined Dec 2011, 1363 posts, RR: 0
Reply 16, posted (2 years 1 week 6 days 10 hours ago) and read 11397 times:

Quoting lightsaber (Reply 15):
Does Kingfisher Airlines own their name, or is Kingfisher a trademark leased from United Breweries?

It's pretty irrelevant - the Kingfisher Airlines brand is worthless.



Airports 2012: IXE HYD DEL BLR BOM CCU KNU KTM BKK SIN ICN LAX BUR SFO PHX IAH ORD EWR PHL PVD BOS FRA MUC IST
User currently offlineblrsea From India, joined May 2005, 1425 posts, RR: 3
Reply 17, posted (2 years 1 week 6 days 10 hours ago) and read 11345 times:

In India, nothing is certain till it actually occurs on the ground. I wouldn't write off Kingfisher yet. As aeroblogger said, he has "friends" in high places, who can pull this out for a long time! In fact, I read somewhere that they are making more losses if they fly, so this shutdown may not be entirely due to the strike as KFA management wants everyone to believe.

User currently offlineGr8Circle From Canada, joined Dec 2005, 3116 posts, RR: 4
Reply 18, posted (2 years 1 week 6 days 10 hours ago) and read 11294 times:

Quoting gonzalo (Reply 2):
I agree, although the Indian government and its effort to favor AI is not irrelevant in this failure IMO.

I think a lot of a.netters (especially those with no understanding of India) just have a blind hatred for AI and the GOI....please understand that the condition of IT today is predominantly because of it's owner and the mangement.....don't blame AI and the GOI for everything that happens in India......


User currently offlineaeroblogger From India, joined Dec 2011, 1363 posts, RR: 0
Reply 19, posted (2 years 1 week 6 days 10 hours ago) and read 11241 times:

Quoting blrsea (Reply 17):
In India, nothing is certain till it actually occurs on the ground. I wouldn't write off Kingfisher yet. As aeroblogger said, he has "friends" in high places, who can pull this out for a long time! In fact, I read somewhere that they are making more losses if they fly, so this shutdown may not be entirely due to the strike as KFA management wants everyone to believe.

IT has not made a single rupee on any route they've flown in months. The only reason they even bothered to operate a schedule is because it allowed them to run the Ponzi of collecting payments for future (unusable) tickets.

With cash running out (or maybe it already ran out), I can definitely see why IT management would want to ground the airline.

What I don't understand is how they plan to get the carrier moving again.. Indian media has been saying the same crap about a middle eastern carrier buying a stake, but it seems incredibly unlikely to me. There is no money to be made...

Of course, there is always the chance that Mallya found a bakra with money. But it's a very, very, very small chance.

In other news, MoCA has decided that Kingfisher's AOC won't be cancelled, but Kingfisher will need permission when/if they restart operations. Clearly Mallya still has some money left...



Airports 2012: IXE HYD DEL BLR BOM CCU KNU KTM BKK SIN ICN LAX BUR SFO PHX IAH ORD EWR PHL PVD BOS FRA MUC IST
User currently offlinegonzalo From Chile, joined Aug 2005, 1992 posts, RR: 2
Reply 20, posted (2 years 1 week 6 days 9 hours ago) and read 10983 times:

Quoting Gr8Circle (Reply 18):
Quoting gonzalo (Reply 2):I agree, although the Indian government and its effort to favor AI is not irrelevant in this failure IMO.
I think a lot of a.netters (especially those with no understanding of India) just have a blind hatred for AI and the GOI....please understand that the condition of IT today is predominantly because of it's owner and the mangement.....don't blame AI and the GOI for everything that happens in India......

  

Quoting gonzalo (Reply 5):
I apologize if my comment wasn't informed enough, like you said, the GoI involvement and its actions are not easy to understand or read from the other side of the world, and I probably have only a fraction of the information regarding how the things work in India .


Sometimes the information can be a little confusing, specially when there are few independent sources...

Rgds.

G.



80 Knots...V1...Rotate...Gear Up...DC-3 / EMB-110 / Fairchild-227 / Ab318-19-20 / B732 / B763
User currently offlineJOYA380B747 From India, joined Mar 2005, 529 posts, RR: 1
Reply 21, posted (2 years 1 week 6 days 9 hours ago) and read 10795 times:

In case KFA fails completely, as an airline traveller, I will remember the airline by its amazing on-board service, the best for any domestic airline I have personally seen around the world.

Thank God I never had to fly them in recent months with all their fiascos, but yes those KFA birds will be sorely missed by me, as an aviation enthusiast because FDI or not, I don't see a fresh new full-service-pan-indian-airline happening in many years to come.

and the tale of failed Indian airlines continues.....



If it wasn't for AI and those money mongers sitting in the parliament, 9W would have been as big as SQ...:(
User currently offlineaeroblogger From India, joined Dec 2011, 1363 posts, RR: 0
Reply 22, posted (2 years 1 week 6 days 9 hours ago) and read 10753 times:

Quoting gonzalo (Reply 20):
Sometimes the information can be a little confusing, specially when there are few independent sources...

Rgds.

G.

Don't take it personally sir - it's a mistake which many people make, and you just happened to time your statement badly...

On your side of the world, the most notable state-owned carrier is AR, and the Government of Argentina makes all kinds of ridiculous policies to favor AR over its private competitors... I can definitely see where a bias against state-owned carriers would come from.

However, in India, the private carriers are favored over the national carrier. It's because corruption is so ingrained in our system - who will pay a bribe to the government on behalf of the government Who will pay off the media? And worst of all, who cares? There is a lot of apathy in India about all these issues, because people have just given up. Nowadays, I look at the paper, see the latest billion dollar scam, and turn the page. It's not news any more.

It's an incredibly strange system which is counter-counterintuitive. But such is life.



Airports 2012: IXE HYD DEL BLR BOM CCU KNU KTM BKK SIN ICN LAX BUR SFO PHX IAH ORD EWR PHL PVD BOS FRA MUC IST
User currently offlineHAWK21M From India, joined Jan 2001, 31684 posts, RR: 56
Reply 23, posted (2 years 1 week 6 days 9 hours ago) and read 10442 times:

Quoting comorin (Reply 3):
this will pretty much wipe him out and dismantle his empire.

will it really.....or would only his committed assets go........

Feel sad for the employees.....



Think of the brighter side!
User currently offlinemanny From United States of America, joined Sep 2006, 474 posts, RR: 0
Reply 24, posted (2 years 1 week 6 days 9 hours ago) and read 10442 times:

Kingfisher is the cat that has had 9 lives. Not sure how many more lives are still left. But i will believe it when it actually happens.

If pure economics dictated when it folds then it should have done 2 years ago.


25 tonystan : I felt sad for the employees back in March...now I just think they are stupid to still be there working for nothing for so long! I know economic time
26 aeroblogger : It's not quite that simple. In India, you need a No Objection Certificate from your former employer to change jobs. So, in order for current IT emplo
27 Post contains images lightsaber : I'm having trouble with the thread title. It assume IT will fly again! As I phrase it, where is the return on investment (ROI). With their recent poor
28 tonystan : Thanks for clarifying that. What an absolutely INSANE requirement. So in effect if you are employed in India you are a hostage to the company until t
29 aeroblogger : Pretty much. In aviation, yes.. There's nothing stopping them from joining a completely new industry though, as long as it doesn't require a security
30 Post contains images AA94 : This is a rather stupid regulation. In effect, it places people out of work in situations like this ...
31 aeroblogger : Our regulator (DGCA) was considering overhauling the regulation earlier this year so that it can accomplish its goals, whatever they are, without the
32 Cricket : Well, Mallya is having to dispose of his stake in United Spirits to pay off people. His son is desperate to break into Bollywood, although every pass
33 art : Anyone know who gets paid in what order when a business goes bust in India? In the UK I think it is: (a) the accountants appointed by the Official Rec
34 speedbird118 : Please pardon my ignorance on this issue, but can an airline attempt to generate revenue without actually having to have its own equipment or manpower
35 jfk777 : A sad ending to what was India's brightest star in teh airline industry, an Indian Richard Branson. Mr. Mallya's ideas will live on in some planes he
36 Vimanav : KFA was never the brightest star in India's airline industry. It was the best dressed and most dolled up entity in borrowed clothes. If one discounts
37 Post contains links sankaps : Well said, Vimanav. Any fool can spend money recklessly to provide the best service in the skies regardless of market and economic realities. Making
38 aeroblogger : Well said!
39 goacom : KF is getting what it is due. This extravagant airline was simply not sustainable. I remember flying it when it just started service and I kept tellin
40 aeroblogger : I have to disagree. While all of this is true: You are ignoring the most important market reality of all - and that is corruption. It is so tightly b
41 art : Sad to hear that support for corruption more or less guarantees the success of your venture in India. However, unless Air India is an exception, it h
42 sankaps : Exactly! I remember being singularly unimpressed when at CCU airport there were half a dozen "Kingfisher Girls" (ground staff) standing around baggag
43 comorin : I'd like to know more about that, could you kindly provide a link? Was there a debt-equity swap?
44 sankaps : I think he meant that state-owned SBI and by extension the Indian Gov have significant stakes in the future of KF, in that the banks, which have over
45 aeroblogger : Air India is a government company, so it cannot take advantage of corruption. It would be awfully strange if the government was bribing itself :P Yes
46 Post contains links goacom : Kingfisher is the tip of the iceberg. AI's debts are 10x higher than Kingfisher. Given the lack of substantial changes at AI, only an ostrich with its
47 Vimanav : No Aerobloggers claim is perfectly factual. Erstwhile Minister of Civil Aviation Peepee systematically dismantled IC and AI's profitable routes and r
48 aeroblogger : Exactly. AI has a valuable route network, fleet, and infrastructure which would be attractive to a potential investor. I think this is a bit overly o
49 blrsea : Many people don't understand how corruption works in India. Private carriers are favoured because they can offer huge bribes. Now, in that environment
50 LAXDESI : Is there a scenario under which the banks sell 49%(after IT is liquidated/restructured) to a foreign airline and hold the remaining 51%. I am sure one
51 Vimanav : By the way Kingfisher have extended their lockout by another 2 days. No operations on 13-14OCT either. brgds//Vimanav
52 Gonzalo : I could be wrong, but this body is starting to look pale, smelly and stiff.... Rgds. G.
53 avek00 : What's the upside for the acquiring carrier, though? At this point IT is nothing but a giant mass of liabilities. Taking a significant ownership stak
54 Post contains links Vimanav : Interesting blog and pictures of IT's launch party. Its a kaleidoscope of those who fed and fed off the huge lie called KFA. Catch them here... and do
55 sankaps : I disagree. There is still plenty of scope for corruption in terms of nepotism, favoritism, and padded contracts. Corruption to enrich privsate walle
56 LAXDESI : There is a lot of value to the operating license of IT. Not sure if it can be salvaged under Indian laws by stakeholders who are not made whole upon
57 goacom : This is not factual at all. AI was and is still free to compete with the private airlines. Nothing was "replaced" unless you have a problem with comp
58 aeroblogger : I didn't say there is no corruption at AI - there is a lot. I said AI cannot take advantage of corruption - AI is the victim, not the beneficiary. Wh
59 sankaps : Okay, but AI can certainly benefit from government favoritism, which some would argue is a form of corruption.
60 Stitch : Except the government is busy favoring the private carriers because of their "gifts" to government bureaucrats.[Edited 2012-10-10 15:27:48]
61 Gr8Circle : My one and only flight on IT (HKG-BOM on an A330) back in 2010 was before all these troubles started.....I booked my ticket on IT with high expectati
62 avek00 : Sure, but acquiring just the operating license is a very different scenario than acquiring the airline itself. The former would be fine in a liquidat
63 goacom : This is sheer nonsense! If one includes the low cost loans that AI has had access to, it amounts of 10s of billions in subsidies for the airline, cou
64 sankaps : For decades, the govt protected Air India and the former Indian Airlines. Even now they survive because of the taxpayer via govt subsidies. Air India
65 Post contains images Vimanav : Appears you did not read my post carefully. 1. AI was not free to compete with private carriers. They were asked to stand down from certain routes wh
66 HAWK21M : Totally agree....it was evident in a few yrs that things were not being organised well.Unneeded Managers & posts were created,people were hired &
67 Gonzalo : Saving the distances and the obvious differences between the two countries, I found really amazing that both India and Argentina spend tens of millio
68 LAXDESI : Has Mallya pledged as collateral shares of his other companies against bank loans? Has he pledged any personal assets?
69 Gr8Circle : I'm not sure if that's a valid statement....I mean, calling the Indian railways "barely operational"......the Indian Railways is of of the worlds lar
70 Post contains links comorin : Non-bailable warrant issued for KF owner Vijay Mallya for bounced check: http://timesofindia.indiatimes.com/i...ay-Mallya/articleshow/16781715.cms
71 Gonzalo : Under the picture in the article says "Arrest order against V. Mallya over bounced cheques"....so Mr. Mallya is a fugitive from now.... This seems mo
72 Post contains images comorin : I presume so, but then, I don't pretend to understand "the way we do it here in India"
73 Cricket : He will likely get bail, but for that he needs to appear in front of the court, now that, I feel is a remote possibility....
74 Vimanav : quote “GHIAL had filed four cheque bounce cases against Kingfisher Airlines amounting to Rs.10.50 crores. The cases were listed today for the airlin
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