UB GROUP

  • Vijay Mallya blames all but himself for Kingfisher woes September 3, 2013

    Mumbai: Kingfisher Airlines Chairman Vijay Mallya has blamed almost everyone, including engine suppliers, employees, banks and tax authorities, for grounding of the carrier since October last year. In the airline's annual report (2012-13), he also mentions that the company is in talks with a "potential investor". United Breweries (Holdings) Ltd, the...
  • Kingfisher Airlines submits plan to restart operations April 11, 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...
  • 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...
  • Kingfisher Airlines loses Rs 755 crore in Q3 as planes sit idle February 5, 2013

    Mumbai: Debtridden and with no customers, Kingfisher Airlines Ltd posted a Rs 755 crore loss in the three months to December 31 as its planes sat idle, creditors circled and regulators rebuffed the Indian airline's revival plans. Kingfisher, which has been stripped of its flying licence, owes an estimated $2.5...
  • Kingfisher licence to be renewed if revival plan okayed: DGCA sources December 31, 2012

    New Delhi: In fresh ray of hope for the Kingfisher Airlines, sources in the aviation regulator, the Directorate General of Civil Aviation (DGCA), said that the licence of the cashstrapped carrier would be renewed if its revival plan gets a goahead. According to the sources, the DGCA asked the airlines for...
  • News 360: Arvind Kejriwal targets corporate czars, Congress MP November 9, 2012

    Activistturnedpolitician Arvind Kejriwal on Friday alleged that Rs 6,000 crore in black money was stashed away in 700 HSBC accounts in Geneva, Switzerland. ...
  • Diageo to acquire 53.4 pc in Mallya's United Spirits November 9, 2012

    New Delhi: Vijay Mallya owned United Breweries on Friday signed a $2 billion deal with Diageo group and sold controlling stake of 53.4 per cent in United Spirits Limited (USL). Announcing the deal, Mallya said, "The cash infusion will help USL deleverage itself. It is a winwin situation for both...
  • UB Group records Rs 34.2 cr secondquarter profit November 9, 2012

    Mumbai: United Breweries Ltd on Friday posted a net profit of Rs 34.2 crore for the second quarter ended September 30, as against Rs 19.5 crore in the yearago period. The revenue of the company, part of Vijay Mallyaled UB Group, also rose to Rs 875 crore in the same...
  • Diageo to buy stake in Mallya's USL for $ 1 bn November 9, 2012

    New Delhi: Vijay Mallyaowned United Breweries has reached a deal with the world's largest producer of spirits Diageo and the deal close to a billion dollars is expected to be announced on Friday. Diageo is likely to take the management control post the deal, while Mallya will continue to remain...
  • USL stake sale: UB Group, Diageo reach agreement November 8, 2012

    New Delhi: The UB Group and Diageo have finally agreed to sign a termsheet for the United Spirits Limited stake sale on Friday. Sources say that Diageo will likely take management control of the USL. However, Vijay Mallya will remain the chairman of the USL, post the UB GroupDiageo deal. The...
  • Mallya will not sell 'family silver' for Kingfisher October 28, 2012

    Greater Noida: Liquor baron Vijay Mallya does not have to do a deal with UK drinks giant Diageo and will not sell prized assets to rescue his grounded Kingfisher airline, he told Reuters at the weekend. Speaking in his office at Force India, the Formula One team he coowns, the...
  • UB Group will fund Kingfisher' revival: Sources October 26, 2012

    New Delhi: In the latest twist to the Kingfisher Airlines crisis, sources on Friday said that the money to revive the cashstrapped airline will come from Vijay Mallya's UB Group as there is no investor available in the near term. Kingfisher CEO Sanjay Aggarwal met the Directorate General of Civil...
  • Management control, competition norms hit USLDiageo deal October 23, 2012

    New Delhi: Vijay Mallya's quest to raise funds seems to have hit a speed breaker. Sources say that the United Spirits Limitedglobal spirits company Diageo deal has hit a roadblock over issues related to management control. According to sources there are two important issues that have to be clarified. First, about...
  • Kingfisher Airlines: What brought it down October 22, 2012

    New Delhi: So how exactly was Kingfisher Airlines killed? The airline company was Chairman Vijay Mallya's muse. He chose to run it himself, even deciding to interview air hostesses, pilots and other staff members himself. So did this obsession lead to the company's decline? Apart from Mallya, few others were...
  • UB beer unit operating without clearance: Govt October 20, 2012

    Bangalore: The Karnataka government on Saturday said it has instructed the State Pollution Control Board to take action against United Breweries which was found to run its beer production unit at Nanjanagud in Mysore district without operational clearance by the Board. Ecology and Environment Minister Sogadu Shivanna, who visited the unit...
  • Mallya's UB Group management to meet KFA employees October 17, 2012

    New Delhi: With no end in sight to the 16day impasse over a lockout and strike by its workers, Kingfisher Airlines management will be meeting with their representatives on Wednesday in a lastditch effort to convince them to return to work. The meeting, scheduled in Mumbai, is likely to be...
  • Amid crisis, KFA executives get hefty pay hikes October 7, 2012

    New Delhi: Air carriers may be flying through rough weathers, but their top executives have got handsome pay hikes, while CEO of crisisridden Kingfisher has emerged as the secondhighest paid among all his peers at Vijay Mallyaled UB Group. Among the country's three listed airlines also, Kingfisher CEO Sanjay Agarwal's pay...
  • Diageo in talks with United Spirits to acquire stake September 25, 2012

    Bangalore/London: Diageo and UB Group On Tuesday said they are in talks for a deal under which the UKbased drinks major may pick up stake in the latter's United Spirits, but maintained there is no certainty of the transaction. "Both United Spirits and United Breweries Holdings have issued a statement this...
  • KFA's June quarter loss widens to Rs 651 crore August 11, 2012

    New Delhi: Kingfisher Airlines on Saturday reported widening of net loss for the quarter ended June 30, to Rs 650.8 crore due to costs associated with nonoperating aircraft. The airline had posted a net loss of Rs 263.5 crore in same period last year. The income from operations of the...
  • KFA making 'alternative arrangements' for booking March 9, 2012

    New Delhi: Crisishit Kingfisher Airlines said on Friday it has made alternative arrangements for customers to book their travel on the carrier, in the wake of global airlines' body IATA suspending it from its platforms for nonclearance of dues. "The airline has made alternate arrangements to ensure that the customers...
  • Kingfisher Airlines denies reports of layoffs January 4, 2012

    New Delhi: In a major costcutting exercise, private sector aircarrier Kingfisher Airlines is believed to be considering about 2,000 job cuts and longer working hours for its staff, among various options. Kingfisher later issued a statement saying, "Kingfisher Airlines categorically denies news reports appearing in a section of the press which...
  • Kingfisher to get $ 47 mn loan from Sahara: report December 18, 2011

    Mumbai: The Sahara group will give a loan of more than 2.5 billion rupees to cashstrapped Kingfisher Airlines, to help the carrier continue operations, the media reported on Saturday, citing sources. Kingfisher, India's third largest airline by market share, has been struggling to raise funds to continue operations and repay debt. The...
  • Kingfisher Airlines seeks funds, concerns persist November 19, 2011

    Mumbai: Shares in beleaguered Kingfisher Airlines fell as much as 18 per cent on Friday, even as it was in talks with a potential investor and met with lenders in a scramble to shore up its finances. The airline's chairman told the Financial Times that the carrier was close to securing...
  • Mallya & Co hold discussions with SBI officials November 18, 2011

    Mumbai: In continuation of efforts to raise funds for beleaguered Kingfisher Airlines, its promoter Vijay Mallya and top officials on Friday held discussions with the State Bank of India officials. The meeting, in which Mallya, UB Group Chief Financial Officer Ravi Nedungadi and Kingfisher CEO Sanjay Agarwal, were present, is understood...
  • UB group withdraws Harbhajan spoof advertisement July 22, 2011

    Indian cricketer Harbhajan Singh said the advertisement mocks him and the sikh community. ...
  • UB Group withdraws controversial Bhajji ad July 22, 2011

    New Delhi: The Vijay Mallyaowned UB Group on Friday decided to withdraw the controversial advertisement which showed Indian skipper Mahendra Singh Dhoni "mocking" at Harbhajan Singh's lookalike, which had prompted the spinner to slap a legal notice against the group. The UB Group said that it has taken a decision to...
  • Ad war: Legal notice sent to UB group July 18, 2011

    Cricketer Harbhajan's lawyers says the Royal Stag advertisement makes a mockery of him and the sikh community. ...
  • Pawar admits ownership link to Bangalore team June 7, 2010

    New Delhi: Union Agriculture Minister Sharad Pawar has told IBN Network that he holds shares in the Baramati Grape Association, a subsidiary of Vijay Mallyaowned United Breweries (UB) Group. He has however insisted that investment in Baramati Grape Association was a business investment and hence did not translate to he or...
  • Whisky tycoon Mallya named Ambassador of the Year January 23, 2008

    New Delhi: United Breweries chief Dr Vijay Mallya was on Wednesday given the Ambassador of the Year at the Icons of Whisky Awards for regional icons from India. The awards are given by Whisky Magazine and celebrate the people and places behind the greatest whiskies in the world, said a press...
  • Mallya wants full merger of Air Deccan, Kingfisher November 28, 2007

    Liquor baron and MP Vijay Mallya is considering a merger of Air Deccan and Kingfisher. This comes in the wake of Kingfishers acquisition of a majority stake in Air Deccan. The two carriers have a combined fleet of 71 aircraft that fly to 70 destinations. In the domestic sector, the two have...