New Delhi: Kingfisher Airlines employees, who haven't received their salaries for months, adopted a unique form of protest. They booed Royal Challengers Bangalore's Virat Kohli at the Delhi airport on Tuesday. Virat is the captain of the team owned by Vijay Mallya who also owns Kingfisher airlines.
Kingfisher Airlines, once India's second-largest airline, is behind on salary payments and has grounded its fleet. Over 80 pilots and 270 Kingfisher engineers have been on intermittent strikes, primarily over delay in payment of salaries.
Kingfisher has been saddled with a huge loss of Rs 8,000 crore and a debt burden of over Rs 7,000 crore, a large part of which it has not serviced since January 2012. Several of its aircraft have been either taken away by its lessors or grounded by the Airports Authority of India for non-payment of dues during the past few months. Kingfisher's net loss in 2010-11 was Rs 1,027 crore and it doubled to Rs 2,328 crore in 2011-2012. The airline also owes money to 17 banks.
...
more
11:40 PM, May 07, 2013
New Delhi: State Bank of India (SBI) on Monday said the consortium of lenders has recovered Rs 800-1,000 crore and is making all efforts to recover the remaining dues from beleaguered Kingfisher Airlines. "KFA recoveries are going on. We have substantial amount of recoveries. Total recoveries for banks is more than Rs 800-1000 crore," SBI Chairman Pratip Chaudhuri said here. The consortium of 17 banks, led by SBI, has an...
06:56 PM, May 06, 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 enforce all the securities. Our intention is to sell everything...all means of recovery (will be employed)...nothing would escape. Till...
10:16 PM, Apr 16, 2013
New Delhi: Grounded Kingfisher Airlines submitted a plan to the Director General of Civil Aviation (DGCA) to restart operations, saying its parent group would provide initial funding and asking for its flying licence to be renewed. Kingfisher, controlled by liquor tycoon Vijay Mallya, who also owns UB Group, was forced to halt operations in October, 2012 and owes about $2.5 billion to banks, airports and others, the Centre for Asia...
08:13 AM, Apr 11, 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 will come from the (parent UB) Group. We have also requested that our (flying) licence be renewed," the airline's CEO...
06:27 PM, Apr 10, 2013
Mumbai: National carrier Air India has shown interest in acquiring some of the self check-in kiosks of Kingfisher Airlines (KFA) at the city's domestic airport, weeks after private carrier Jet sought to take over some of the international and domestic routes of KFA, say airport sources. "Since Kingfisher Airlines is no longer operating, Air India has evinced interest in acquiring a few of its kiosks," sources at Mumbai airport said....
11:49 AM, Apr 07, 2013
Kingfisher Airlines on Tuesday started remitting two months' salaries to its employees who have not been paid for the last 10 months. ...
09:52 PM, Apr 02, 2013
A group of Kingfisher Airlines workers gathered at the Indira Gandhi International Airport on Tuesday to protest against the non-payment of salaries. The employees have not received their salaries for the past ten months. Last week, Kingfisher chairman Vijay Mallya had given them an assurance that their salaries would be paid. ...
08:20 PM, Apr 02, 2013
Liquor baron Vijay Mallya has filed a petition in the Bombay High Court against the lenders to his grounded airline Kingfisher for selling a portion of the pledged shares of United Spirits (USL) worth Rs 100 crore, according to banking sources. ...
09:43 AM, Apr 02, 2013
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. ...
12:58 PM, Apr 01, 2013
The Finance Ministry has asked public sector banks to limit the amount of loan write-offs and sought details of recoveries made by them in the six years ending 2011-12 with an aim to improve the finances of PSU lenders. ...
12:10 PM, Mar 31, 2013
The court battle among airport operators, tax authorities and Kingfisher Airlines' lessors over repossession of its planes may have a negative impact on other Indian carriers leasing aircraft from global leasing companies, a leading aviation consultancy firm has said. Major aircraft leasing companies and financers have started adopting a cautious approach towards Indian carriers, with some even threatening to pull out of India, it said. ...
10:18 AM, Mar 31, 2013
Aviation regulator DGCA said it has deregistered 15 aircraft operated by Kingfisher Airlines, paving the way for global leasing companies to take them back and easing worries that the dispute might hurt purchases by other Indian carriers. ...
12:50 PM, Mar 26, 2013
Frustrated over not getting salary for last 10 months, Kingfisher Airlines employees on Wednesday asked the government to prosecute promoter Vijay Mallya and threatened to disrupt IPL matches. ...
01:46 AM, Mar 21, 2013
acing acute financial crisis due to non-payment of salaries for the past 10 months, employees of Kingfisher Airlines are meeting here on Wednesday to protest their "total neglect and ignorance" by the company as well as the government and to decide their future course of action. ...
01:55 PM, Mar 20, 2013
What about loan recovery from those other than Kingfisher?, wondered its promoter Vijay Mallya while taking a dig at bank chiefs in his tweet for their "constant speak" to media on getting back dues from the grounded airline. ...
05:30 AM, Mar 20, 2013
Indian representatives on the board and indeed in the airline's senior management. Whether AirAsia Bhd's aircraft can be brought in for operation into India, a measure that would certainly be cheaper for the airline, is still unclear. Though the government has cleared the investment, AirAsia will actually have to lobby for permissions at every step. ...
05:00 PM, Mar 13, 2013
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 contended in its petition that the amount due is much less than the demand made by the IT Department and the department had not given it a proper opportunity to hear its case. ...
03:02 PM, Mar 08, 2013
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. ...
04:28 AM, Mar 06, 2013
Liquor baron Vijay Mallya has been moved out of Forbes' global rich list of 1,226 billionaires, even as the number of Indians in this elite club has grown since last year. With a net worth of USD one billion, Mallya was ranked 45th among 48 Indians on this annual rich list in March 2012, while he was placed at 1,153rd position globally. ...
06:00 PM, Mar 05, 2013
