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Kingfisher Airlines To Lose Aviation License  
User currently offlinegauravpai From , joined Dec 1969, posts, RR:
Posted (1 year 11 months 3 days 17 hours ago) and read 25582 times:

Will the drama finally end effectively closing down the airline.?

Aviation regulator Directorate General of Civil Aviation (DGCA) may suspend the licence of Kingfisher Airlines today for failing to come up with a viable financial revival plan, sources have said.

The Vijay Mallya-promoted airline was to respond to a show-cause notice issued by the regulator by today (October 20), but that seems unlikely as the airline has sent out a request for more time to do so.

The DGCA will consider all legal implications before suspending the licence, the sources said. It had asked the airline, which has not operated a single flight since 1 October, to explain why its licence should not be cancelled.

In a statement issued on Friday, the debt-laden airline said it had written to the aviation regulator seeking time on the show-cause notice, and added that it was extending its partial lockout until October 23. In a second extension (the first being until 12 October), the lockout is scheduled to have today (October 20).

"The management hopes to resume operations on November 6," Friday’s statement added.

The airline was forced to declare a lockout and suspend flight operations after its 250 engineers went on strike on September 30.

They were later joined by pilots.

The employees are protesting against non-payment of salaries and dues, and have said that work will resume only after all dues are paid and assurances are given that salaries will be paid on time.

Several talks between the staff and the management have failed. 

On Friday, Kingfisher statement quoted Prakash Mirpuri, the vice-president of corporate communications, as saying, “We had a positive meeting with employee representatives on October 17 and are hopeful of reaching common ground when we meet again next week."

Shares in Kingfisher Airlines dropped 4.8 per cent on Friday ahead of the October 20 deadline to respond to the civil aviation authorities. The DGCA had told the airline on October 5 to demonstrate why its permit to fly should not be suspended or cancelled for failing to establish a "safe, efficient and reliable service", and gave it 15 days to reply.

Kingfisher had previously grounded flights until October 20, but the industry regulator on Wednesday had rejected Kingfisher's winter schedule.

The airline currently has only 10 operational aircraft compared to 66 planes a year ago.

The Vijay Mallya-owned airline is reeling from a $1.4 billion (Rs. 7,524 crore) debt. It has accumulated operating losses of Rs. 8,000 crore.

Lenders to the airline earlier this month agreed to release Rs 60 crore from an escrow account to keep the airline afloat. An escrow account, which prevents a default in loan obligations by a company, ensures that funds received by a company cannot be accessed by it but goes directly to the lenders.

After the restructuring of loans to Kingfisher Airlines in 2010-11, its lenders had taken charge of cash flows, including funds received through ticket sales. The airline needs Rs 55 to 60 crore to pay salaries for two months.

So far, the meetings between the management and the striking employees have failed to end the impasse. A crucial meeting on Thursday also could not arrive at a conclusion. The management has assured payment of a month’s salary which is not acceptable to the staff.
Source: Ndtv

Looks like its Bye Bye IT. !! You will be missed

117 replies: All unread, showing first 25:
 
User currently offlinePHX787 From Japan, joined Mar 2012, 7560 posts, RR: 18
Reply 1, posted (1 year 11 months 3 days 16 hours ago) and read 25464 times:

Quoting gauravpai (Thread starter):
Will the drama finally end effectively closing down the airline.?

Well as I previously stated, wiki said that the death knell was to toll on 10/20. I heard today that one of the creditors is going to force IT to shut down but I haven't heard anything yet.

No word on the license being suspended yet either. I'll keep checking the news.

Quoting gauravpai (Thread starter):
Looks like its Bye Bye IT. !! You will be missed

      RIP



次は、渋谷、渋谷。出口は、右側です。電車とホームの間は広く開いておりますので、足元に注意下さい。
User currently offlinegauravpai From , joined Dec 1969, posts, RR:
Reply 2, posted (1 year 11 months 3 days 16 hours ago) and read 25438 times:

I think the judgement should be out at about 3 pm IST so in about 5.5 hrs from now

Let's hope sense prevails and the proverbial horse with the broken leg is put to sleep. I gu see the employees have suffered a great deal by prolonging the drama

As PHX787 rightly said
IT RIP   


User currently offlineVIDP From India, joined Feb 2010, 161 posts, RR: 0
Reply 3, posted (1 year 11 months 3 days 16 hours ago) and read 25385 times:

i badly miss their A332,s had wonderfull flights to Heathrow/Delhi on IT001/IT002 flying biz

User currently offlinePIEAvantiP180 From United States of America, joined Sep 2009, 539 posts, RR: 0
Reply 4, posted (1 year 11 months 3 days 15 hours ago) and read 25269 times:
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I wonder who will pick up all that metal not flying any more? How many planes has IT already had repossessed by lenders and lessors?

User currently offlinePHX787 From Japan, joined Mar 2012, 7560 posts, RR: 18
Reply 5, posted (1 year 11 months 3 days 15 hours ago) and read 25214 times:

Quoting PIEAvantiP180 (Reply 4):
How many planes has IT already had repossessed by lenders and lessors?

As of right now all planes are still grounded,

but they have about 21 airplanes in their fleet. 2 of them were in VIP configuration.

According to Wiki, "Pre-2012 operations" fleet =:

3x A319, dry-leased
21x A320 with 67 on order, 11 dry-leased(were these orders cancelled?)
8x A321 (2 of them were dry-leased)
4x A330s with 15 on order

Orders for 5 A350s or 5 A380s, with 5 A380s on option.
http://en.wikipedia.org/wiki/Kingfisher_airlines#Fleet
Correct me if I'm wrong  



次は、渋谷、渋谷。出口は、右側です。電車とホームの間は広く開いておりますので、足元に注意下さい。
User currently offlineZKOJH From China, joined Sep 2004, 1701 posts, RR: 1
Reply 6, posted (1 year 11 months 3 days 13 hours ago) and read 24916 times:

Well they seem to keep finding some extra breathing space!

''Mumbai, October 19, 2012
Kingfisher Airlines Ltd. has extended the partial lockout until October 23, 2012. We had a positive meeting with employee representatives on October 17th and are hopeful of reaching common ground when we meet again next week. Currently, we anticipate resuming operations on November 6th, subject to our resumption plan being reviewed and approved by the DGCA.''

http://www.flykingfisher.com/media-c...kfa--mumbai-october-19th-2012.aspx



NZ 787-9 flying between PVG - AKL ! CAN'T WAIT!!
User currently offlinegauravpai From , joined Dec 1969, posts, RR:
Reply 7, posted (1 year 11 months 3 days 12 hours ago) and read 24582 times:

Quoting ZKOJH (Reply 6):

Uh oh Here we go again

If they indeed make it wonder how long till it just falls apart !

Hoping for the best for all concerned especially the employees

Cheers

Dr Gaurav Pai


User currently offlineblueflyer From United States of America, joined Jan 2006, 4001 posts, RR: 2
Reply 8, posted (1 year 11 months 3 days 11 hours ago) and read 24511 times:
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Quoting ZKOJH (Reply 6):
Well they seem to keep finding some extra breathing space!

That doesn't change anything.
The DGCA has given Kingfisher until October 20 to explain why its license shouldn't be withdrawn. This deadline is in no way influenced by the airline's unilateral and unrelated decision to extend its employees lockout until October 23.

The first step of their resumption plan Kingfisher mentions in its press release is to get the DGCA to give them more time to file their answer and avoid losing their license. If the DGCA grants their request, they get to keep on dying slowly for a while longer. If the DGCA doesn't, their long and slow agony ends today...



I've got $h*t to do
User currently offlinegauravpai From , joined Dec 1969, posts, RR:
Reply 9, posted (1 year 11 months 3 days 11 hours ago) and read 24492 times:

Quoting ZKOJH (Reply 6):

What you have quoted us what IT officials are saying not DGCA or the GOI

So for all you know the airline may lose its licence in another two hours

The govt has said that the winter slots will be distributed to all other airlines and no winter slots have been allotted to kingfisher

So let's wait and watch but I feel this is the end or very close to the end

Quoting VIDP (Reply 3):

With you on that they had excellent J service international and domestic as well with great food until things fell apart

In any case   


User currently offlineHAWK21M From India, joined Jan 2001, 31684 posts, RR: 56
Reply 10, posted (1 year 11 months 3 days 10 hours ago) and read 23572 times:

The end of good times..........

suspended.......2nd last nail in the coffin.

sad for the staff.



Think of the brighter side!
User currently offlineBLRAviation From India, joined Feb 2009, 344 posts, RR: 14
Reply 11, posted (1 year 11 months 3 days 10 hours ago) and read 23429 times:

Quoting HAWK21M (Reply 10):
suspended.......2nd last nail in the coffin.

IT license is "suspended" pending receipt of a "viable business plan" which relies on "suitcase technology". When it comes to GoI and aviation, anything is possible.



I am on Twitter @BLRAviation
User currently offlineRWA380 From United States of America, joined Feb 2005, 3261 posts, RR: 5
Reply 12, posted (1 year 11 months 3 days 10 hours ago) and read 23393 times:

I've been wondering how many times this carrier can come so close to flat lining, until they do it for good. Kingfisher has been given the paddles more than once to revive them for short spurts, but they always seem to end up stuck in quick sand.

This is sad for all involved, the guy who lost millions and millions investing in this airline, the employees that have little job security, the debtors who will likely not see their money, nor the travellers (not sure how many) whose plans are going to be interrupted or fubarred in some way. The economy of support services that Kingfisher at least in part supported. RIP IT

 



AA AC AQ AS BD BN CO CS DL EA EZ HA HP KL KN MP MW NK NW OO OZ PA PS QX RC RH RW SA TG TW UA US VS WA WC WN
User currently offlineCricket From India, joined Aug 2005, 2968 posts, RR: 7
Reply 13, posted (1 year 11 months 3 days 10 hours ago) and read 23371 times:

jo hona tha so ho gaya... RIP Kingfisher, I guess as a holder of 70,000 King Miles I'm also an unsecured creditor now...

WSJ piece


A300B2/B4/6R, A313, A319/320/321, A333, A343, A388, 737-2/3/4/7/8/9, 747-3/4, 772/2E/2L/3, E170/190, F70, CR2/7, 146-3,
User currently offlinegauravpai From , joined Dec 1969, posts, RR:
Reply 14, posted (1 year 11 months 3 days 8 hours ago) and read 22616 times:

Quoting RWA380 (Reply 12):
This is sad for all involved, the guy who lost millions and millions investing in this airline, the employees that have little job security, the debtors who will likely not see their money

Absolutely

Quoting Cricket (Reply 13):
RIP Kingfisher, I guess as a holder of 70,000 King Miles I'm also an unsecured creditor now...

57000 miles myself so am in it with you   

anyways was fun as long as the goodtimes lasted,will miss the lobster meals,the freshly brewed coffees ,the personalised specatcle cleaning, the amenity kit and ofcourse the Personally picked IT stewardesses. 

I think this is finally IT !!   


User currently offlinecipango From Ireland, joined Jul 2009, 613 posts, RR: 0
Reply 15, posted (1 year 11 months 3 days 8 hours ago) and read 22529 times:

Such a sad ending. I flew them a few times before and was very impressed with their A332 from DEL-LHR. A very fine product with great service and food.

Will the unpaid staff every get paid for their work now?


User currently offlinegauravpai From , joined Dec 1969, posts, RR:
Reply 16, posted (1 year 11 months 3 days 8 hours ago) and read 22514 times:

Quoting cipango (Reply 15):
Will the unpaid staff every get paid for their work now?

Doubtful
Shameful and Sad as well i may add!


User currently offlineHPRamper From United States of America, joined May 2005, 4058 posts, RR: 8
Reply 17, posted (1 year 11 months 3 days 8 hours ago) and read 22152 times:

They should be forced to sell their aircraft off and all proceeds given to the employees who have been literally working for free for half a year. Shameful that this airline was allowed to operate off the backs of free labor for so long based simply on empty promises by management. It boggles my mind how this could even happen in this day and age.

User currently offlineart From United Kingdom, joined Feb 2005, 3382 posts, RR: 1
Reply 18, posted (1 year 11 months 3 days 8 hours ago) and read 22096 times:

IMO the board members responsible for this mess should be disbarred from holding such office in Indian companies. If found to have acted illegally, they should be punished and made personally responsible for any debt arising from their illegal conduct.

I find it disgusting that while failing to pay salaries the company stopped processing "requests for references" which would have enabled employees to secure an income stream elsewhere. I would like to see those responsible for that imprisoned to send out a message to other unscrupulous employers.


User currently offlineLOWS From Austria, joined Oct 2011, 1154 posts, RR: 1
Reply 19, posted (1 year 11 months 3 days 7 hours ago) and read 21615 times:

Quoting BLRAviation (Reply 11):
"suitcase technology

Will that be the technology developed by Zero Halliburton?

Will employees have any claim for assets for their back wages?


User currently offlineBLRAviation From India, joined Feb 2009, 344 posts, RR: 14
Reply 20, posted (1 year 11 months 3 days 7 hours ago) and read 21455 times:

Quoting LOWS (Reply 19):
Will that be the technology developed by Zero Halliburton?

  

Quoting LOWS (Reply 19):
Will employees have any claim for assets for their back wages?

Indian law is very favourable to labour, but unfortunately most of IT employees will be on a pay scale above labour i.e. factory workers, and there the employees will have to just get in line like unsecured creditors.

But in all our head shaking, we are overlooking the political angle in all of this. DGCA has given Mallya the "Get out of Jail Free" card.

By suspending the license, Mallya can conveniently duck    and dump the whole problem in the lap of the government.

"I was trying to revive, get FDI, do this, do that, GoI closed the airline. Now how can they expect me to repay the debts [to employees, government oil cos., airports, etc. etc. etc.]".

As a seasoned media professional in the thick of things, I would love to hear Cricket's views on my hypothesis.



I am on Twitter @BLRAviation
User currently offlinegauravpai From , joined Dec 1969, posts, RR:
Reply 21, posted (1 year 11 months 3 days 3 hours ago) and read 18379 times:

Quoting HPRamper (Reply 17):

Very well said HPR atleast some of the sweat and blood will be repaid

However knowing how things work in This snake of the woods it's highly unlikely and the top officials will get away scot free

The only bright side is if the airline closes the employees can seek jobs at other airlines which they could not for so long as they were not being given an NOC by IT

Cheers
Best of luck to all former employees of IT


User currently offlineCricket From India, joined Aug 2005, 2968 posts, RR: 7
Reply 22, posted (1 year 11 months 3 days 3 hours ago) and read 18378 times:

Quoting HPRamper (Reply 17):
They should be forced to sell their aircraft off and all proceeds given to the employees who have been literally working for free for half a year. Shameful that this airline was allowed to operate off the backs of free labor for so long based simply on empty promises by management. It boggles my mind how this could even happen in this day and age.

Sell what aircraft? They don't own a single one, in fact the lessors are having to pay off the airports just to get them out and worse, many of them (those parked up at T2 at DEL) are simply unflyable; which given that they are in some cases just four years old is goddamn tragic...



A300B2/B4/6R, A313, A319/320/321, A333, A343, A388, 737-2/3/4/7/8/9, 747-3/4, 772/2E/2L/3, E170/190, F70, CR2/7, 146-3,
User currently onlinescbriml From United Kingdom, joined Jul 2003, 12566 posts, RR: 46
Reply 23, posted (1 year 11 months 3 days 3 hours ago) and read 18184 times:
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Well that's a real shame. One of the better looking schemes out there.  
View Large View Medium
Click here for bigger photo!

Photo © Steve Brimley
View Large View Medium
Click here for bigger photo!

Photo © Steve Brimley




Time flies like an arrow, but fruit flies like a banana!
User currently offlineVimanav From India, joined Jul 2003, 1516 posts, RR: 14
Reply 24, posted (1 year 11 months 3 days 2 hours ago) and read 17263 times:

I wish the employees the very best and my heart goes out to them. All I can say is there are better days ahead for them but away from this airline.

brgds//Vimanav



Sarfaroshi kii tamannaa ab hamaare dil mein hai, Dekhnaa hai zor kitnaa baazu-e-qaatil mein hai
25 Post contains links abrelosojos : Another chapter in the troubled industry of aviation comes to an end. This thread made me recall the reports I had written on them: Kingfisher IT 433:
26 Post contains links and images PHX787 : http://in.reuters.com/article/2012/1...ce-suspended-idINDEE89J03620121020 License suspended by Indian government, bookings cease, but airline not shut
27 LAXDESI : Public sector banks will become the majority claimants. Anyone know what has been pledged by UB Group and Mallya personally? As UB stock has risen 45%
28 Post contains images adityashankar : I just saw the JustPlanes (World Air Routes) Kingfisher video, can't believe its the same airline going through so much.....I got a chance to fly them
29 Post contains links and images vishaljo : we were spotting today & the remaining last 5 KF a/c's are parked here: View Large View MediumPhoto © Vishal Jolapara - Indian Aviation Photograp
30 usflyer msp : I am not seeing anyone interested in purchasing IT. Too much debt and the Indian domestic market still has, even with the IT shutdown, significant ov
31 HPRamper : Ah, I was under the impression that they owned at least a few. Well, in that case, take it out of their asses...pardon the language.
32 danielkandi : Way better inflight experience than other Indian carriers, plus very good prices usually. They once helped me out of a real jam, and for that I am ete
33 gauravpai : Hi all Another twist in the tail MANAGEMENT RESPONSE KINGFISHER AIRLINES This afternoon we received an order of the Director General of Civil Aviation
34 Post contains images PHX787 : Oh jeez I wonder what they have in the pipeline now. Well, looks like they got until Nov. 5 to sort things out. Honestly people, I'm not holding out
35 gauravpai : The only positive of the airline starting ops if and when is the employees and the hope that they will be paid A for them the current situation is hop
36 art : Situation is this, it seems to me: Employees: "We want to be paid for working for Kingfisher." Kingfisher: "That is an issue we need to resolve but y
37 Cricket : I'll tell you this much, Prakash Mirpuri, KFA spokesperson makes Tariq Aziz look like a rank amatuer. He deserves to be paid now!
38 HAWK21M : Doubt if staff will ever get paid......the dues of AAI & refuelling agencies will be bigger. Remember 1993.......Air asiatic/continental.........
39 gauravpai : Quoting above posts here's a Press Release from the Lenders: Mumbai: Lenders to Kingfisher Airlines, whose combined exposure of nearly Rs 7,500 crore
40 COEWR787 : The relevant question to ask of the lenders is what they heck were they doing creating such unsecured exposure for themselves? Where is their fiducia
41 BLRAviation : I think the suspension is helping Mallya. While we are proclaimed Kingfisher's eulogies, the PR folks at the airline, called the suspension temporary
42 art : Seeking funds / receiving funds for a specified purpose then choosing to use those funds otherwise than for the specified purpose is fraudulent in UK
43 aeroblogger : Not paying employees and taxes is illegal too... Not that it means anything.
44 Revelation : Indeed, as well as Baghdad Bob. Now we have Mumbai Mirpuri to add to the list. Shame on the public if they buy this kind of spin. You passengers and
45 aeroblogger : The government doesn't subsidize most of the lower fares people clamor for. GoI instead forces AI to cut fares, and lets the backers of the private c
46 Post contains images MadameConcorde : This is really ugly. Vijay Mallya is a greedy, selfish, ugly man. Employees not getting paid? What does he care... just as long as he is having his o
47 Post contains images RyanairGuru : In all of this, the thing I'm finding the most difficult to come to terms with is that the banks only have collateral for 10% of their investment. My
48 F9animal : This guy really burns my butt! The fact that he has royally screwed the employees while living a great life makes me sick to my stomach. He is indeed
49 ojas : @BLRAviation Well he will take a few people down with him but that's it. While I'm sure he may find some branch to hang to and there could be a saviou
50 Post contains images BLRAviation : Thanks for the story. This is not a press release, it is a PTI wire story published on the NDTV site. It would help if you could post the URL. The st
51 Post contains links gauravpai : Duly noted Here's an interesting article regarding the employees important meeting with management Now that the license is suspended do I sense the e
52 HAWK21M : Exactly.....considering the amount, its not much to VJM standards....Atleast the staff will get back to work. If an airline is in crises,any employee
53 gauravpai : Breaking news again Talks between kingfisher management and employees fail.: The management offers 3 months salary to be paid Ina staggered manner ove
54 Post contains images PHX787 : Does the State of India have the ability to shut an airline down? This is turning into an outrage.... an outrage only suitable for a bollywood movie
55 gauravpai : Not at all taking anyones side but just a query wouldnt it make sense to accept the two three month salary and get something out of it than get nothi
56 aeroblogger : No. Working 3 more months to get 2 months of backpay is a poor idea in comparison to the airline shutting down and employees becoming free to go get
57 tayaramecanici : In the event that KFA restart, he will be doing it with a much smaller fleet and workforce. The employees are aware of this fact and hence its pruden
58 HAWK21M : where.......... The staff can still get a better deal in the comming days...but get ready for a staff reduction in future.....
59 gauravpai : VJM finally appears from the wilderness and tweets about it: Employees of Kingfisher airline who have been on strike since last month expressed their
60 Post contains images Revelation : Yeah, right, work responsibilities... Must be nice to have no conscience whatsoever...
61 Post contains links MadameConcorde : Indian Empress is in Valletta (Malta) as I am writing this message. Last Position Received Area: Mediterranean Latitude / Longitude: 35.90128˚ / 14.
62 Post contains links and images PHX787 : http://zeenews.india.com/business/ne...llya-says-not-absconder_62929.html Just end it now, already, IT!
63 art : Aggarwal said that the March 2012 salary will be paid on or before October 25. "We have urged them to accept our offer and should they agree, they wil
64 VIDP : I doubt if they have any opex (Operating/working Capital) left with them forget about the capex
65 HAWK21M : KF will need to reduce staff too....what happens then.....
66 Post contains images gauravpai : BREAKING NEWs. Kingfisher pilots end stir The striking kingfisher pilots have ended their stir and have e sceptres three months salary before the Indi
67 art : When is Diwali, please? What about the rest of the staff, are they likely to agree to resume work? I imagine that any investor would want agreements
68 VIDP : Tuesday 13-Nov Lets see what VJM has up his sleeve.
69 HAWK21M : Heard that most staff have agreed to get back to work from Today......
70 RWA380 : To reply to all the above comments at once, I just finished watching the BBC America broadcast about Kingfisher and according to what was said, is th
71 Post contains images gauravpai : heres the latest In a breakthrough for the beleaguered Kingfisher Airlines, its pilots, and then some time later its engineers, who had been on strike
72 art : Good of the employees to petition to get the licence to fly unsuspended. Just quoted one of the comments because it contains a specific date. It's th
73 Post contains links and images MadameConcorde : They know where VJM is going to be this coming weekend. http://www.bbc.co.uk/sport/0/formula1/20078546 I hope the Kingfisher employees will go there
74 gauravpai : Not so sure he will show up... Or maybe he will as he is VJM. .. Not sympathetic towards him but it would be a real shame if there had been demonstra
75 Post contains links LAXDESI : Virgin Atlantic open to buying into Indian Airlines: Sir Richard Branson. I wonder if GOI would be interested in some sort of structured bankruptcy fo
76 Post contains links and images MadameConcorde : VJM is being talked about today with the F1 race. Looking at the free practice sessions he is not there at the circuit today, BBC commentators said he
77 gauravpai : Another news breaking UB Group to find IT Kingfisher Airlines has reportedly told the civil aviation regulator, Directorate General of Civil Aviation
78 sankaps : I strongly believe this is exactly what it is. Sahara had probably given VJM some cash to pay some salaries to avoid embarrassment to both a the F1.
79 Post contains images art : To me that sounds like somebody saying: "Now is not the time." About the F1 protests - I imagine the moment staff received payment, it would be repor
80 Post contains links and images MadameConcorde : Quote: As the F1 roadshow arrived in Delhi it was greeted by the sight of grounded Kingfisher jets at the airport, and Mallya himself was reportedly d
81 art : No reports of any employees being paid? I imagine the cameras of the world press will see a rather unusual qualifying day. Not saying it will happen (
82 gauravpai : I sympathize with the plight of the employees However the grand prix is one of the greatest showcases portraying India on the world sporting stage Nd
83 tayaramecanici : All that the staff seek is a honest days wage, not paid for the last 7mnths. I sincerely hope they throw a spanner in the works at the F1 if only to
84 aeroblogger : I cannot agree with this sentiment. Some priorities need to be straightened out... Sports is certainly less important than thousands of employees not
85 art : Nobody has the right to disregard the law, agreed. The rich in India, however, appear to have a de facto right to do so and exrcise that right as the
86 tonystan : Who gives a rats behind about "sport"! Im sorry but peoples livelyhoods are at sake here. The F1 is merely a luxury in all of this and that idiotic f
87 caliatenza : In India, rich people mainly dont give a crap about others. The vast majority of them were either poor or middle class at some point in their lives..
88 gauravpai : Please read my post I said its no excuse to take employees for a ride and I symPathize with the employees However you cannot use one excuse to cause
89 HAWK21M : Hopefully KF looks at their mgmt team too.....
90 Post contains images MadameConcorde : For as much as I have liked and followed F1 for so many years I am surprised the Force India cars are even allowed to race this weekend. This is an i
91 tayaramecanici : Exactly the point, both the owners have been accused of looting the lowest section of society to further their own meglomaniac fantasies. For a large
92 Post contains links Cricket : Mallya now says that he has never been elusive and played an active part in the wage deal
93 Post contains images gauravpai : MALLYA REACHES INDIAN GP This is just too much!! Greater Noida: Embattled Force India team boss Vijay Mallya made his Indian Grand Prix entrance in co
94 HAWK21M : So lets see what VJM speaks to his KF Staff after the races......
95 Post contains links sankaps : ""My group is sufficiently cash-generative to fund the airline as we have done. We have put almost 150 million pounds ($241.47 million) since April 20
96 aeroblogger : They made an example of Rajat Gupta. The rich and powerful get away everywhere, not just in India.
97 tharanga : no true scotsman, I take it? is raj rajaratnam also not a true scotsman? Allen Stanford? Bernie Madoff? Conrad Black? Let's not make sweeping emotion
98 sankaps : But the example proves the rich and famous cannot just assume they will get away in the US. Why not make an example of Vijay Mallya too in India? Exa
99 aeroblogger : There are plenty of people who are made examples of in India too. For example, A. Raja, who spent over a year in the Indian prison system.... I would
100 Post contains images MadameConcorde : Now that the F1 race is all over with the VJ Mallya will have no more excuses.
101 HAWK21M : VJM seems keen on a KF recovery.....But is it practical.
102 XT6Wagon : no, he wants to save face and talk up his "actions" to save the company, which were overcome by "bad people" keeping him from saving it. You can bet
103 Post contains images sankaps : Especially those pesky ungrateful employees, who selfishly go on strike just because they haven't been paid for months. Couldn't they wait until the
104 art : I'm getting (even more) confused about what is happening re: employees striking and employees receiving some payment from Kingfisher. Have any employe
105 gauravpai : As of last report according to a friend at kingfisher one salary has been paid with two more due in next fortnight Lets hope all salaries are paid and
106 Vimanav : Yes but without VJM's shadow anywhere near it...
107 Post contains images lightsaber : I hope the salaries are paid. While I hate to see people lose jobs, I fail to find a business case for Kingfisher airlines. They have been mismanaged
108 blueflyer : Can a license be suspended indefinitively, or is there some sort of a deadline whereby it is cancelled if it hasn't been reinstated ? Rich crooks ripp
109 caliatenza : I agree with you...there are many well to do people who are giving back to their communities and who haven't abandoned their roots. The problem is, t
110 VIDP : 2nd months salary was also credited to employees accounts. The license was valid till 31-Dec,2012 before it was temporarily suspended. So whatever th
111 LAXDESI : Good to hear, and a hopeful sign that IT may survive. VJM must have expectation that he would recover these salary outflows from possible sale of his
112 HAWK21M : KF seems to be on track with their salary payment promises so far since the strike. the AOP renewal at the end of the year will be the key.
113 Cricket : And Vijay Mallya has sent out his customary bottle of scotch and wine to all Indian Member's of Parliament
114 Post contains links AirbusA6 : http://www.bbc.co.uk/news/business-20267619 Mallya has sold a large stake in his Spirits business. A final attempt to rescue Kingfisher? Good money af
115 art : The BBC report says Diageo will pay about $2 billion. Is there any point in putting money into Kingfisher before they have come up with a business pl
116 lightsaber : I wonder about this. To be blunt, throwing money into IT would be silly. IMHO, long term the spirits business is worth more (so kudos to Diageo for b
117 HAWK21M : Interesting move....but wonder if KF can come out of it unscratched and make a start......looks tough.....
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