tioloko100 From Australia, joined Jul 2012, 113 posts, RR: 0 Posted (1 year 3 weeks 4 days 13 hours ago) and read 5786 times:
Its not a new thing in aviation to run into debts but with Kingfisher Airlines, it seems the CEO isn't ready to throw in the towel yet as the airline is running at loss at Q2. Sir Richard Branson said " the fastest way to become a millionaire is to become a billionaire and then start as airline" I guess he is right as Kingfisher's CEO is off the billionaires list.
mozart From Luxembourg, joined Aug 2003, 2133 posts, RR: 14 Reply 1, posted (1 year 3 weeks 4 days 11 hours ago) and read 5553 times:
I am surprised that there are actually still people flying with them. Are they ignorant about the fact that their flight might not happen? Do they buy a cheap ticket and simply treat it like a call option? They buy their tickets only last minute when they can be sure that the flight actually leaves?
lightsaber From United States of America, joined Jan 2005, 11951 posts, RR: 100 Reply 2, posted (1 year 3 weeks 4 days 11 hours ago) and read 5512 times:
In italics is from the OP link: "Despite the company's pledge on Thursday to produce a comprehensive recovery plan, some analysts doubt that what was once India's second-largest carrier will fly again."
With good reason. Where is the business plan? There is simply too much debt to compete with Indigo.
"But Mallya, who is no longer a billionaire on the latest Forbes list, told reporters last month that he would not sell his "family silver" to save Kingfisher."
In other words, I'm not stupid enough to throw more of my money into the airline, but maybe I can find someone else stupid enough...
peterinlisbon From Portugal, joined Jan 2006, 321 posts, RR: 0 Reply 3, posted (1 year 3 weeks 4 days 6 hours ago) and read 5061 times:
So in what form does this airline still exist? It's not flying, so what are they doing with the planes, the facilities and the staff? Is everyone just sitting around waiting for more money to magically appear so they can carry on as before? And hoping that if that does happen, the passengers will come back and trust that this company is not liable to go bankrupt at any moment and disappear along with their money?
tioloko100 From Australia, joined Jul 2012, 113 posts, RR: 0 Reply 5, posted (1 year 3 weeks 3 days 21 hours ago) and read 4550 times:
Kingfisher has higher chances than mexicana, Indian's population is still a good advantage and being a developing economy there is still better change for the airline. The whole global economy is still turbulent.
lightsaber From United States of America, joined Jan 2005, 11951 posts, RR: 100 Reply 7, posted (1 year 3 weeks 3 days 10 hours ago) and read 2763 times:
Quoting tioloko100 (Reply 5): Indian's population is still a good advantage and being a developing economy there is still better change for the airline.
Against 6E and 9W? IT just didn't have the right business plan. While India is a growing market, the well run airlines are growing so quickly that there is little left over for others. Also, there is AI who receives political favor which inhibits other airlines from timely start of profitable routes. There is a premium market in India, just not a large enough of a market for three premium airlines. AI and 9W have that niche filled. IT never had their costs in order and that has come to bite them.
F9animal From United States of America, joined Dec 2004, 4872 posts, RR: 29 Reply 8, posted (1 year 3 weeks 3 days 8 hours ago) and read 2622 times:
The CEO needs to suck it up, and give it up. The employees and customers have been hurt enough already. Pull the plug on the life support. I am sad to see what has become of this airline, but enough really is enough. The owner of this airline is a real pig, and should dig into his deep pockets at minimum, and pay the employees what they are owed. Last one out needs to turn off the lights, because we know the owner will not pay that bill either.
Sorry, but the owner is a pig. How any rich human can let those who work for him go unpaid has me baffled. He is lucky he is not running his business in the USA. As pathetic as our judicial system is here, he would be looking at major jail time. Why does India let him do this? I also wonder how if the owner has a personal security team? If not, he would be wise to get some. Unpaid employees can be very vicious. Hope he bumps into one of them!