KIngfisher Crisis

  • Nine Kingfisher trademarks put up for sale April 8, 2014

    Mumbai: Kingfisher lenders on Monday put on block nine trademarks of the grounded carrier to recover dues running into crores of rupees. The trademarks put on on the block include Fly Kingfisher and Fly Kingfisher (Label), both registered with KFA and each having a validity of up to January 10,...
  • Mumbai: Kingfisher House to be auctioned as SBICAP takes possession August 12, 2013

    Mumbai: In another setback for Kingfisher Airlines Chairman Vijay Mallya, the Kingfisher Airlines House in Mumbai will now be auctioned. The State Bank of India, which is a lender to the airlines, took possession of the Kingfisher House on Saturday. KFA House is the headquarters of the airline in...
  • Vijay Mallya may face prosecution for not paying service tax arrears August 8, 2013

    New Delhi: The Indirect Tax Department on Thursday hinted that Vijay Mallya, owner of the grounded Kingfisher Airlines, may face prosecution in a service tax evasion case. "Prosecution is definitely a provision there in the Act. And that decision of taking action on Kingfisher owner for not paying service tax...
  • Kingfisher Airlines employees call off strike June 7, 2013

    Mumbai: The employees of the grounded Kingfisher Airlines, who were on a hunger strike, called it off on Friday evening though airline chairman Vijay Mallya reportedly expressed inability to pay salary arrears. The agitation was called off after the second round of meeting between the employees and airline CEO Sanjay...
  • Three senior Kingfisher Airlines executives quit June 2, 2013

    Mumbai: Three more senior executives of Kingfisher Airlines, including its chief information officer, have quit the grounded carrier even as a section of its pilots are set to revive their agitation over nonpayment of salaries. "The airlines' chief information officer Saurav Sinha, flight operations head Capt Ronald Nagar and cabin...
  • 'Will go full throttle to recover dues from Kingfisher' April 16, 2013

    Mumbai: Banks will continue to sell pledged shares of Kingfisher Airline and invoke all other securities till they get back the dues, SBI Chairman Pratip Chaudhuri said on Tuesday. State Bank of India is the leader of consortium of lenders to grounded airline Kingfisher. "We have given instructions to recover and...
  • KFA seeks approval from DGCA to relaunch operations April 10, 2013

    New Delhi: After remaining grounded for over six months, Kingfisher Airlines on Wednesday sought regulatory approvals to relaunch its operations and submitted plans to the DGCA on infusion of funds and revival of its flights. "We have shared the funding and traffic plans. The initial funding to restart the airline...
  • IPL: KFA employees to protest before RCB skipper April 1, 2013

    New Delhi: Two days before the season six of the Indian Premier League begins, Kingfisher airlines employees have planned to stage a protest on Monday. Many of them are planning to hold a protest outside the Delhi residence of cricketer Virat Kohli. Kohli is the captain of the Bangalore Royal Challengers,...
  • SC rejects KFA's plea against HC order to pay Rs 350 cr TDS March 8, 2013

    New Delhi: The Supreme Court has dismissed a petition filed by Kingfisher Airlines challenging the Karnataka High Court order directing it to pay over Rs 350 crores of tax deducted at source (TDS). The company had contended in its petition that the amount due is much less than the demand...
  • Govt to help finance firms repossess Kingfisher planes March 6, 2013

    New Delhi: India will make it easier for leasing and finance firms to reclaim planes used by Kingfisher Airlines, two government sources told Reuters, after complaints that India was complicating the process. Cash-poor and debt-hit Kingfisher, once India's second-largest carrier by market share, has not flown for five months and finance...
  • Govt to give away KFA slots, flying rights to others February 26, 2013

    New Delhi: The government said it will give away Kingfisher Airlines' slots and foreign flying rights to other operators in the latest blow to the grounded carrier. Kingfisher, controlled by liquor baron Vijay Mallya, has been halted due to a cash crunch, and lenders are trying to recover $1.4 billion...
  • Recovering Kingfisher dues will be tardy affair: SBI February 19, 2013

    Chennai: Government lender State Bank of India (SBI) on Monday said its increased nonperforming assets (NPA) are due to its exposure to iron, steel and textile sectors while recovering the dues from Kingfisher Airlines will be a protracted legal affair. "The ban on iron ore mining has affected the steel sector....
  • UB Group in talks with KFA lenders to cut debt February 15, 2013

    New Delhi: UB Group, the parent of debtladen Kingfisher Airlines, said it was in talks with lenders to the carrier to cut their exposure by using proceeds from a stake sale in a group company to Diageo Plc. The statement comes days after lenders to Kingfisher said they would move...
  • Banks to recover Rs 1,000 cr from Kingfisher Airlines: SBI February 15, 2013

    Mumbai: Kingfisher lenders hope to recover up to Rs 1,000 crore of their dues by monetising the securities in the March quarter itself, a senior official of SBI said on Thursday. "That (selling the securities given as collaterals) is the plan," Shyamal Acharya, SBI Deputy Managing Director (MidCorporates Accounts), said...
  • Banks finally decide to start recovery of Kingfisher loans February 12, 2013

    Mumbai: Kingfisher lenders on Tuesday finally decided to start the recovery process for Rs 7,500crore loans given to the grounded airline, a top official of State Bank of India said. "We have decided to recall (initiating the recovery process) the loans given to Kingfisher Airlines. However, each bank board will decide...
  • Kingfisher lenders will give all chances to restart ops: SBI February 12, 2013

    Bangalore: Kingfisher lenders will give all chances to the grounded airline to restart operation even as bankers are concerned over their outstanding dues, SBI Chairman Pratip Chaudhuri said on Monday. The chief of State Bank of India, which heads the 17member lenders' consortium, also said, "We don't give up hope...
  • SBI says Kingfisher Airlines lenders to meet in 15 days February 10, 2013

    Mumbai: With the revival plan of grounded Kingfisher Airlines getting nowhere, its lead lender State Bank on Saturday said the creditors will meet in a fortnight to decide the future course of action to secure their money even as the airline chairman Vijay Mallya met employees to reassure them of...
  • Kingfisher needs at least Rs 1,000 cr to restart: Ajit Singh January 23, 2013

    New Delhi: Kingfisher Airlines(KING.NS) needs at least 10 billion rupees to restart its grounded operations and must also demonstrate an ability to sustain itself for at least 6 months, Civil Aviation Minister Ajit Singh said on Tuesday. Earlier in the day, a senior government source said India was willing to support...
  • Kingfisher pilots too threaten windingup petition January 22, 2013

    Mumbai: Mumbaibased pilots of grounded Kingfisher Airlines on Monday served it an ultimatum to clear their dues by January 31 or face another windingup petition even as the beleagured management on Monday appealed to its Delhibased engineers not to resort to any legal action. The pilots gave the ultimatum at a...
  • KFA expilots send notice to management over unpaid dues January 21, 2013

    New Delhi: Former Kingfisher Airlines pilots have sent a legal notice to the management seeking compensation for mental harassment and salary dues, according to sources. The management has been given a period of 21 days to comply with the notice. The management received the notice on January 18, in which it...
  • Kingfisher Airlines, lenders meet inconclusive January 18, 2013

    Mumbai: A meeting between the core lenders group and the grounded Kingfisher Airlines, which is trying to resume operations by February, ended inconclusively in Mumbai on Friday evening, as the airline failed to table a concrete revival plan. The lenders group, led by State Bank, has PNB, BoB, Bank of...
  • KFA revival plan not enough to restart operations: Sources January 11, 2013

    New Delhi: Kingisher Airlines' planned investment of Rs 650 crore is not enough to restart operations at the grounded Indian carrier, a senior government source said on Friday. The revival plan, which Kingfisher Chairman Vijay Mallya filed in December 2012 with India's Directorate General of Civil Aviation (DGCA), does not...
  • Kingfisher employees seek company's closure January 9, 2013

    Mumbai/New Delhi: Beleaguered Kingfisher Airlines on Wednesday faced fresh trouble with its employees deciding to move court seeking a formal closure of the company if it did not spell out future plans giving a timeline for clearing their salary dues of eight months. The employees are also learnt to have moved...
  • Banks to decide future course of action on Kingfisher soon January 8, 2013

    New Delhi: Kingfisher lenders will soon decide on future course of action with regard to the grounded airline as they do not want the company to close down, State Bank of India (SBI) said on Monday. "The representatives met in Bangalore ... the plan for action the consortium is deciding....
  • Kingfisher says flying permit expiry not a problem January 1, 2013

    New Delhi: Kingfisher Airlines said expiration of its operating licences, set for Monday, was not a cause for concern as the grounded Indian carrier has two years to renew the license and permits required to fly. "Despite the impending expiry of its license tonight, there is no cause for concern as...
  • Kingfisher crisis pushing up airfares: CCI December 31, 2012

    New Delhi: Suspension of flights by crisishit Kingfisher Airlines may be a possible reason for soaring airfares, although there is no evidence as yet of any price cartelisation among the carriers, fair trade regulator Competition Commission has said. "If there was indeed a cartel, which is formed to make disproportionately...
  • 2012 a tumultuous year for Indian aviation December 28, 2012

    New Delhi: It was not a smooth sailing for the Indian aviation industry in 2012 as it saw the grounding of Kingfisher Airlines and financial trouble hitting Air India and other carriers besides a prestigious $ 500 million airport upgrade contract bagged by a leading Indian infra firm being terminated...
  • Kingfisher Airlines to start operations soon, but in phases December 17, 2012

    New Delhi: The Kingfisher Airlines, which is currently grounded, has said that it will restart its operations very soon. The announcement was made in a statement on Monday. However, the cashstrapped airline will start its operations in a phased manner. According to the statement released by the airline, Kingfisher will provide...
  • Kingfisher Airlines looking for solution to end crisis: SBI December 16, 2012

    New Delhi: State Bank of India (SBI) on Saturday said there is no need for lenders to panic as the cashstrapped Kingfisher Airlines is looking for a solution to come out of the crisis. "Kingfisher has been a good airline at some point of time. They are going through their...
  • Full text: Kingfisher's response to Mumbai service tax dept December 11, 2012

    The Mumbai service tax department has begun impounding Kingfisher Airlines' aircraft. One aircraft has been seized and another is in the process of detention. The Deputy Commissioner, Service Tax had sent an order a few days back to Kingfisher that the seven aircraft of the airline in Mumbai will be...