User avatar
jetfuel
Topic Author
Posts: 1039
Joined: Tue Jan 11, 2005 10:27 pm

Kingfisher A Goner, Says Analyst

Mon Sep 19, 2011 12:30 am

http://www.dnaindia.com/money/report...yst-who-tore-into-ril-rcom_1587615

A Canada-based analyst who had ripped asunder the financials of Reliance Industries and Reliance Communications in July has now decimated the balance sheet of Kingfisher Airlines, virtually calling the company bankrupt.

Kingfisher’s auditors, B K Ramadhyani & Co, have said in their report (contained in the company’s annual report for 2010-11) that accumulated losses at the end of last fiscal ‘were more than 50% net worth.

The two analysts also cast doubts over Kingfisher’s accounting practices, citing the auditor’s report.
Where's the passion gone out of the airline industry? The smell of jetfuel and the romance of taking a flight....
 
airevents
Posts: 755
Joined: Thu Jan 03, 2002 7:20 pm

RE: Kingfisher A Goner, Says Analyst

Mon Sep 19, 2011 6:35 am

Just booked a longhaul flight on Kingfisher. Hope they last for a while.... Servicewise, they are just fantastic!
www.airevents.com
 
User avatar
Francoflier
Posts: 3784
Joined: Wed Oct 31, 2001 12:27 pm

RE: Kingfisher A Goner, Says Analyst

Mon Sep 19, 2011 7:49 am

It is indeed amazing that the airline was never able to make a single dollar of profit after so many years.

As promising as the Indian market looks, many seem to break their teeth on it.
I'm guessing that poor financial planning and accounting have a lot to do in this, even though competition is fierce on these markets.
I'll do my own airline. With Blackjack. And hookers. In fact, forget the airline.
 
EDICHC
Posts: 1545
Joined: Sun Nov 05, 2006 9:38 pm

RE: Kingfisher A Goner, Says Analyst

Mon Sep 19, 2011 7:50 am

Quoting airevents (Reply 1):

Hope it isn't too far in the future, or indeed if it is a round trip that you have adequate travel insurance should they go bust.
A300/319/320/346 ATR72 B722/732/3/4/5/6/8/742/4/752/762/3/772/3 BAC111 BAe146 C172 DHC1/6/8 HS121 MD80 PA28
 
User avatar
jetfuel
Topic Author
Posts: 1039
Joined: Tue Jan 11, 2005 10:27 pm

RE: Kingfisher A Goner, Says Analyst

Mon Sep 19, 2011 8:02 am

http://www.business-standard.com/ind...sher-delays-salary-payment/445794/

After government-owned Air India, Kingfisher Airlines has delayed salaries of its employees. The UB Group-controlled airline has not paid salary for July.

“We have not been paid for July. The management said it does not have the money, and has not given any date for the payment,” said a Kingfisher Airlines executive requesting anonymity.

Sounds like WHEN rather than IF. Be sorry to see them go. I admire them for high cabin standards
Where's the passion gone out of the airline industry? The smell of jetfuel and the romance of taking a flight....
 
kiwiandrew

RE: Kingfisher A Goner, Says Analyst

Mon Sep 19, 2011 8:04 am

Quoting EDICHC (Reply 3):
or indeed if it is a round trip that you have adequate travel insurance should they go bust.

After the huge round of bankruptcies in 2001 post the 11 September attacks ( Swissair, Ansett, Sabena, Canada 3000 etc) most travel insurers that I know of no longer offer cover against financial collapse.
 
Shmertspionem
Posts: 430
Joined: Tue Aug 22, 2006 1:27 pm

RE: Kingfisher A Goner, Says Analyst

Mon Sep 19, 2011 8:29 am

Not surprising - everyone of Vijay Mallya's other business ventures went kaput. It was said the name "kingfisher" was a lucky for him cuz only the beer brand his father started had survived his mismanagement. Now it seems even the fates have to admit defeat to his ineptitude. It really as obvious for quite some time given his reported micromanagement.
Vi veri universum vivus vici
 
scouseflyer
Posts: 2167
Joined: Wed Apr 26, 2006 7:02 pm

RE: Kingfisher A Goner, Says Analyst

Mon Sep 19, 2011 8:45 am

Quoting Shmertspionem (Reply 6):
Not surprising - everyone of Vijay Mallya's other business ventures went kaput. It was said the name "kingfisher" was a lucky for him cuz only the beer brand his father started had survived his mismanagement. Now it seems even the fates have to admit defeat to his ineptitude. It really as obvious for quite some time given his reported micromanagement.

Wonder if F1 fans should start worrying about the Force India team too then
 
User avatar
Mikey86
Posts: 118
Joined: Sun Jul 03, 2011 11:51 am

RE: Kingfisher A Goner, Says Analyst

Mon Sep 19, 2011 9:50 am

Damn, this is just crap, I am in the process of chasing a refund from them for some clients, happy times for me ahead!
mikey86 - Greenslopes, Queensland
 
jfk777
Posts: 5955
Joined: Tue Aug 22, 2006 7:23 am

RE: Kingfisher A Goner, Says Analyst

Mon Sep 19, 2011 11:26 am

How can Kingfisher's parent United Breweries be broke? The largest brewery in India is a license to print money.
 
LJ
Posts: 4147
Joined: Wed Nov 17, 1999 8:28 pm

RE: Kingfisher A Goner, Says Analyst

Mon Sep 19, 2011 12:03 pm

Seems like oneworld is excellent in choosing partners should Kingfisher go bankrupt. First Mexicana, second Kingfisher. Who's next?
 
sofianec
Posts: 107
Joined: Thu Aug 30, 2007 6:39 am

RE: Kingfisher A Goner, Says Analyst

Mon Sep 19, 2011 12:35 pm

Do they have an equivalent of Chapter 11 in India. Since obviously Kingfisher expanded vigorously and set very high service standards that took huge capital to achieve. A Chapter 11 or the equivalent may help to reorganize the company, delay or restructure debt and help Kingfisher to emerge a leaner operation.

The market is surely there and the growth in India is phenomenal - certainly investors in IT will make a big mistake to allow the airline to fold.

---
A350WARP
 
Cassi
Posts: 85
Joined: Wed Apr 28, 2010 3:19 pm

RE: Kingfisher A Goner, Says Analyst

Mon Sep 19, 2011 12:58 pm

Quoting LJ (Reply 10):
Who's next?

MA may declare bankruptcy any day, because an EU ruling is expected very soon against its disputed state subsidies.
 
scouseflyer
Posts: 2167
Joined: Wed Apr 26, 2006 7:02 pm

RE: Kingfisher A Goner, Says Analyst

Mon Sep 19, 2011 1:16 pm

Quoting jfk777 (Reply 9):
How can Kingfisher's parent United Breweries be broke? The largest brewery in India is a license to print money.

IIRC UB doesn't actually own much of the airline as there have been several "debt for equity" restructurings menaing that the banks (original creditors) own nearly all of the shares.
 
anshuk
Posts: 93
Joined: Sun Feb 08, 2009 9:05 am

RE: Kingfisher A Goner, Says Analyst

Mon Sep 19, 2011 1:42 pm

Quoting Shmertspionem (Reply 6):
Not surprising - everyone of Vijay Mallya's other business ventures went kaput. It was said the name "kingfisher" was a lucky for him cuz only the beer brand his father started had survived his mismanagement. Now it seems even the fates have to admit defeat to his ineptitude. It really as obvious for quite some time given his reported micromanagement.

You couldn't be further from the truth. Vijay Mallya is one of the most successful businessmen in India, with the exception of the airline. Please do tell me which of his business ventures have gone "kaput"? UB Group one of the biggest liquor conglomerates in the world and Vijay Mallya has taken the company to dizzyingly successful heights since his father's time. I do agree he's messed up the airline. Big time. But that apart, please don't make wildly inaccurate statements. The very fact that you say "his reported micromanagement" proves that you know absolutely no idea what you're talking about. The Kingfisher brand of beer has grown massively under his leadership and is one of the 10 fastest growing brands in the UK. You have absolutely no basis to say that the beer brand "survived" his "mismanagement".

Rant over.

Back on topic, it would be sad if IT was to actually collapse. But I admit, the situation does not look good..
 
LAXtoATL
Posts: 572
Joined: Mon Oct 26, 2009 3:55 am

RE: Kingfisher A Goner, Says Analyst

Mon Sep 19, 2011 1:48 pm

Quoting jfk777 (Reply 9):
How can Kingfisher's parent United Breweries be broke?

United Breweries is not Kingfisher's parent. United Breweries Ltd and Kingfisher Airlines Ltd are two separate companies. They both are controlled by the same holding company United Breweries Holdings Ltd. I don't know much about Indian corporate structure, but in the US the finances of two different companies owned by the same holding company do not interact. Profits and losses eventually are rolled up into the holding company, but the subsidiaries do not share financials between companies - assuming India has a similar structure (which given the info we have is a safe assumption) Kingfisher can be completely broke and United Breweries can still be hugely profitable.

[Edited 2011-09-19 06:56:28]
 
simfanatic
Posts: 35
Joined: Sat Jan 12, 2008 11:09 am

RE: Kingfisher A Goner, Says Analyst

Mon Sep 19, 2011 1:48 pm

Quoting LJ (Reply 10):

Have a look at MA and AB  
Don't be a fool, think about what you're writing!
 
LAXtoATL
Posts: 572
Joined: Mon Oct 26, 2009 3:55 am

RE: Kingfisher A Goner, Says Analyst

Mon Sep 19, 2011 1:59 pm

Quoting scouseflyer (Reply 13):
IIRC UB doesn't actually own much of the airline

United Breweries Holdings Ltd. (UBHL) owns 60%+ of Kingfisher Airlines Ltd (KFA), according the corporate structure chart on their website.
 
JAAlbert
Posts: 1567
Joined: Tue Jan 31, 2006 12:43 pm

RE: Kingfisher A Goner, Says Analyst

Mon Sep 19, 2011 2:03 pm

What aircraft does Kingfisher have on order and how will that affect A and B? Do I recall correctly that Kingfisher has the A380 on order?
 
mogandoCI
Posts: 1247
Joined: Thu Jun 04, 2009 2:39 pm

RE: Kingfisher A Goner, Says Analyst

Mon Sep 19, 2011 2:24 pm

Quoting LJ (Reply 10):

Seems like oneworld is excellent in choosing partners should Kingfisher go bankrupt. First Mexicana, second Kingfisher. Who's next?

AA, but not until 2012
 
User avatar
Polot
Posts: 5245
Joined: Thu Jul 28, 2011 3:01 pm

RE: Kingfisher A Goner, Says Analyst

Mon Sep 19, 2011 3:40 pm

Quoting JAAlbert (Reply 18):
What aircraft does Kingfisher have on order and how will that affect A and B? Do I recall correctly that Kingfisher has the A380 on order?

According to Airbus' latest spreadsheet, Kingfisher has 5 A380 (that basically everyone has assumed they won't be taking for years now), 5 A358, 15 A332, and 64 A320 on order (about half for Kingfisher Red). They also list 2 A345 still on order, but I am not sure about the status of those as Kingfisher (i.e if built and waiting for a customer) has rejected taking delivery of all its other A345s. They also have some ATR 72 on order. No Boeings.

Honestly it probably wouldn't affect Airbus all that much if Kingfisher shut down. They can easily sell the A330 and A320 slots, who knows if the A350-800 is actually going to be built, and after the whole A340 debacle, it wouldn't surprise me if Airbus is operating under the position that Kingfisher will not be taking the A380 (which could probably be quickly resold anyways due to their limited availability).

[Edited 2011-09-19 08:46:37]
 
Gr8Circle
Posts: 2397
Joined: Fri Dec 02, 2005 11:44 am

RE: Kingfisher A Goner, Says Analyst

Mon Sep 19, 2011 4:18 pm

Quoting anshuk (Reply 14):
You couldn't be further from the truth. Vijay Mallya is one of the most successful businessmen in India, with the exception of the airline. Please do tell me which of his business ventures have gone "kaput"? UB Group one of the biggest liquor conglomerates in the world and Vijay Mallya has taken the company to dizzyingly successful heights since his father's time. I do agree he's messed up the airline. Big time. But that apart, please don't make wildly inaccurate statements.

Exactly.....I was a bit surprised to read the post from Shmertspionem.....Vijay Mallya is generally known to be a highly successful businessman and most of his liquor businesses are doing well.....he obviously didn't add the touch to his airline venture....

Quoting airevents (Reply 1):
Servicewise, they are just fantastic!

But not very consistent.....my one and only flight on IT (HKG-BOM) last year was quite a dissapointment.....none of the high IT service that everyone talks about.....I find 9W's service on international routes to be far better......
 
User avatar
readytotaxi
Posts: 3481
Joined: Mon Dec 11, 2006 2:09 am

RE: Kingfisher A Goner, Says Analyst

Mon Sep 19, 2011 4:24 pm

Quoting jetfuel (Reply 4):
“We have not been paid for July. The management said it does not have the money, and has not given any date for the payment,” said a Kingfisher Airlines executive requesting anonymity.

The staff have not been paid for JULY, how about August?
And they still turn up at work, amazing people!
you don't get a second chance to make a first impression!
 
User avatar
enilria
Posts: 6881
Joined: Fri Feb 22, 2008 7:15 pm

RE: Kingfisher A Goner, Says Analyst

Mon Sep 19, 2011 4:28 pm

I had no idea their situation was so poor. This may be part of why the Indian govt is looking to scale back competition from Emirates.
 
KL577
Posts: 536
Joined: Mon Oct 30, 2006 12:21 am

RE: Kingfisher A Goner, Says Analyst

Mon Sep 19, 2011 4:35 pm

Quoting readytotaxi (Reply 22):
The staff have not been paid for JULY, how about August?
And they still turn up at work, amazing people!

I flew Kingfisher last week, Mumbai-Bhubaneswar. For a domestic flight a decent and reasonably priced meal and friendly crew. But I couldn't help thinking if these flight attendants had by then finally received their salary. Loads were also good.

Anyway, I am flying with them again next friday: Hyderabad - Delhi. Hopefully, they are still around by then, and I can make it to my onward connection on KLM to Amsterdam!
 
NYC777
Posts: 5083
Joined: Wed Jun 09, 2004 3:00 am

RE: Kingfisher A Goner, Says Analyst

Mon Sep 19, 2011 5:04 pm

So how long do they have till they're out of business?
That which does not kill me makes me stronger.
 
744fan
Posts: 10
Joined: Wed May 14, 2003 3:47 am

RE: Kingfisher A Goner, Says Analyst

Mon Sep 19, 2011 5:07 pm

Too bad they're not in the US. If an auditor said they were going to go under, they could get $500 million in loan guarantees from the governement!
 
GolfOscarDelta
Posts: 102
Joined: Fri Feb 01, 2008 5:17 pm

RE: Kingfisher A Goner, Says Analyst

Mon Sep 19, 2011 5:08 pm

I don't know about VJM's style of management but I'm sure about one thing: VJM had nothing to with the growth of Kingfisher beer, simply because the market for beer has rapidly expanded in the last 20 years since the liberalization of the economy, not because of VJM's management. I'm in my mid 20's now and its my current generation that freely consumes liquor, the generation of my parents rarely touch any alcohol and till the mid to late 90's alcohol was prohibitively expensive for the middle class. Manmohan Singh's financial policies in the early 90's made possible the growth of the alcohol industry. Moreover Kingfisher effectively has a monopoly here; its either Kingfisher or cheap local crap (Tiger & Cobra etc.) which no one will touch purely based on health and safety reasons or prohibitively expensive imports like Corona etc..

VJM has also pretty much run his cricket team (Royal Challengers Bangalore) into the ground. This year he was only saved from catastrophe because Dirk Nanes was injured and had to be replaced by Chris Gayle who single handedly saved Mallya's team from defeat.

His F1 team isn't doing much better either. They contracted Airbus 2 years back to do the aerodynamics work for the car. The work was so good they looked like a strong contender to move from the mid field and seriously start contending for podium positions. But the team was so badly managed they didn't pay Airbus for their work. IIRC Airbus was using some university's wind tunnels for their work, just packed up and left the models behind in the tunnel. Team Lotus came in took those models and went to work with their car. Force India then sues Team Lotus for copying their designs. Very unprofessional and mismanaged IMHO.

All the above including IT to me are proof of lack of proper management.

IIRC in the early 90's Mallya had started another airlines prior to IT, UB-MEC airlines I think IIRC. (Please correct me if I'm wrong on this, I was a young kid in the early 90's and only very vaguely remember the UB-MEC, Dalmiya, East West, NEPC, ModiLuft era). I believe UB-MEC went bankrupt within a couple of years due to mismanagement. I see Kingfisher only as UB-MEC Part 2 at this point.

P.S. What ever happened to the history UB-MEC? I cannot find any mention of it on the internets
 
User avatar
readytotaxi
Posts: 3481
Joined: Mon Dec 11, 2006 2:09 am

RE: Kingfisher A Goner, Says Analyst

Mon Sep 19, 2011 5:40 pm

Quoting KL577 (Reply 24):
Anyway, I am flying with them again next friday: Hyderabad - Delhi.

Have a quiet word with one of them and ask if they have been paid.   
you don't get a second chance to make a first impression!
 
SuseJ772
Posts: 670
Joined: Wed Aug 10, 2005 11:13 am

RE: Kingfisher A Goner, Says Analyst

Mon Sep 19, 2011 6:07 pm

Quoting jetfuel (Reply 4):
“We have not been paid for July. The management said it does not have the money, and has not given any date for the payment,” said a Kingfisher Airlines executive requesting anonymity.

This just absolutley amazes me! Can someone locally please expound on this? Is this a normal practice? Are they mad about it? I just can't see anybody I know (in pretty much any economy) continuing to show up to work 2 to 3 months after not getting paid. Are the pilots getting paid? Wouldn't one think this becomes a bit of a safety issue?
Currently at PIE, requesting FWA >> >>
 
User avatar
readytotaxi
Posts: 3481
Joined: Mon Dec 11, 2006 2:09 am

RE: Kingfisher A Goner, Says Analyst

Mon Sep 19, 2011 6:17 pm

BA/IB Want Kingfisher (by BeyondBristol Sep 4 2010 in Civil Aviation)

Posted 1 Yr 2Wks ago, Lucky excape perhaps?
you don't get a second chance to make a first impression!
 
User avatar
AirlineCritic
Posts: 1049
Joined: Sat Mar 14, 2009 1:07 pm

RE: Kingfisher A Goner, Says Analyst

Mon Sep 19, 2011 7:31 pm

Sad to see them go, if this is true.

Their cabin experience is something else. Not so much service-wise, even though it was nice. But more attitude-wise. Mr. owner himself shows up in the video introduction, and tells the passenger that he has *personally* (his emphasis) selected every one of the cabin personnel. Sheesh... but I have to say, the man has good taste, judging from the looks of the flight attendants.
 
bill142
Posts: 7861
Joined: Wed Aug 04, 2004 1:50 pm

RE: Kingfisher A Goner, Says Analyst

Mon Sep 19, 2011 7:50 pm

Quoting readytotaxi (Reply 30):
Posted 1 Yr 2Wks ago, Lucky excape perhaps?

You would think that IAG has the ability to turn IT around.
 
aviasian
Posts: 1244
Joined: Mon Jan 08, 2001 8:11 am

RE: Kingfisher A Goner, Says Analyst

Tue Sep 20, 2011 10:55 am

With IndiGo now going international and already a major stakeholder in the domestic aviation scene, I think Kingfisher has its work cut out.

Ahout Kingfisher and high standard, I am not certain as my two flights with them (London-Mumbai and Mumbai-Singapore) were way below mediocre.

KC Sim
 
User avatar
SEPilot
Posts: 5020
Joined: Sat Dec 30, 2006 10:21 pm

RE: Kingfisher A Goner, Says Analyst

Tue Sep 20, 2011 11:02 am

Quoting jfk777 (Reply 9):
How can Kingfisher's parent United Breweries be broke? The largest brewery in India is a license to print money.

You surely have heard how to make a small fortune in aviation? Start with a large one.
The problem with making things foolproof is that fools are so doggone ingenious...Dan Keebler
 
jr
Posts: 1043
Joined: Tue May 18, 1999 1:15 am

RE: Kingfisher A Goner, Says Analyst

Wed Sep 21, 2011 3:32 am

Quoting GolfOscarDelta (Reply 27):
(Please correct me if I'm wrong on this, I was a young kid in the early 90's and only very vaguely remember the UB-MEC, Dalmiya, East West, NEPC, ModiLuft era)

I think it was Damania. And of course there were Jet Airways and Sahara in that group as well along with a few others that never made any noise. Not sure about UB-MEC - it certainly skipped my attention if it did exist  
I've flown on 9V-SPK.
 
User avatar
HAWK21M
Posts: 29917
Joined: Fri Jan 05, 2001 10:05 pm

RE: Kingfisher A Goner, Says Analyst

Wed Sep 21, 2011 11:40 am

Bad Management & non Accountable Managers......

VJM needs to hike the price of beer & replace his top & middle Mgrs to start a recovery.
I may not win often, but I damn well never lose!!! ;)
 
JU068
Posts: 2094
Joined: Thu Aug 20, 2009 8:23 am

RE: Kingfisher A Goner, Says Analyst

Wed Sep 21, 2011 11:47 am

So if they go bankrupt, which airline would profit the most?
 
User avatar
SKAirbus
Posts: 1462
Joined: Sat Oct 27, 2007 9:18 pm

RE: Kingfisher A Goner, Says Analyst

Wed Sep 21, 2011 12:37 pm

Quoting ju068 (Reply 37):
So if they go bankrupt, which airline would profit the most?

I'd say the government owned one... India is so protectionist its untrue (and damaging).
Next Flights: LHR-OSL (738), OSL-CPH (320), CPH-LHR (321), LHR-HEL (359), HEL-LHR (359)
 
Gr8Circle
Posts: 2397
Joined: Fri Dec 02, 2005 11:44 am

RE: Kingfisher A Goner, Says Analyst

Wed Sep 21, 2011 8:01 pm

Quoting SKAirbus (Reply 38):
I'd say the government owned one... India is so protectionist its untrue (and damaging).

You're absolutely wrong on that count.....9W, Indigo, Spicejet as well as AI, would all equally benfit....I guess those used to IT's service standards would be more inclined to go with 9W.....

There's a limit to GOI and AI bashing....  
 
User avatar
HAWK21M
Posts: 29917
Joined: Fri Jan 05, 2001 10:05 pm

RE: Kingfisher A Goner, Says Analyst

Wed Sep 21, 2011 9:03 pm

Quoting ju068 (Reply 37):

So if they go bankrupt, which airline would profit the most?

It would be shared by all the rest.
More serious would be unemployed staff ready to work for meager wages,that would drop the salary market.
I may not win often, but I damn well never lose!!! ;)
 
babybus
Posts: 2379
Joined: Sun Dec 28, 2003 5:07 am

RE: Kingfisher A Goner, Says Analyst

Wed Sep 21, 2011 10:56 pm

And don't tell me, they've just ordered 400 Airbus A380s and 300 787s?

So much for the boom in the Indian economy.
and with that..cabin crew, seats for landing please.
 
Gr8Circle
Posts: 2397
Joined: Fri Dec 02, 2005 11:44 am

RE: Kingfisher A Goner, Says Analyst

Thu Sep 22, 2011 2:24 am

Quoting Babybus (Reply 41):
And don't tell me, they've just ordered 400 Airbus A380s and 300 787s?

So much for the boom in the Indian economy.

What's that supposed to mean  
 
User avatar
HAWK21M
Posts: 29917
Joined: Fri Jan 05, 2001 10:05 pm

RE: Kingfisher A Goner, Says Analyst

Thu Sep 22, 2011 6:58 am

Quoting Babybus (Reply 41):

So much for the boom in the Indian economy.

Undoubtly you are not aware of what you are speaking.......This is not about the booming Indian Economy but a private Airline mismanaged by its team.
I may not win often, but I damn well never lose!!! ;)

Popular Searches On Airliners.net

Top Photos of Last:   24 Hours  •  48 Hours  •  7 Days  •  30 Days  •  180 Days  •  365 Days  •  All Time

Military Aircraft Every type from fighters to helicopters from air forces around the globe

Classic Airliners Props and jets from the good old days

Flight Decks Views from inside the cockpit

Aircraft Cabins Passenger cabin shots showing seat arrangements as well as cargo aircraft interior

Cargo Aircraft Pictures of great freighter aircraft

Government Aircraft Aircraft flying government officials

Helicopters Our large helicopter section. Both military and civil versions

Blimps / Airships Everything from the Goodyear blimp to the Zeppelin

Night Photos Beautiful shots taken while the sun is below the horizon

Accidents Accident, incident and crash related photos

Air to Air Photos taken by airborne photographers of airborne aircraft

Special Paint Schemes Aircraft painted in beautiful and original liveries

Airport Overviews Airport overviews from the air or ground

Tails and Winglets Tail and Winglet closeups with beautiful airline logos