New Delhi: Embattled Force India team boss Vijay Mallya made his Indian Grand Prix entrance in combative mood on Saturday, lashing local media for their coverage of his business troubles and grounded Kingfisher airline. The liquor and aviation tycoon, no longer a billionaire according to the latest Forbes list, flew in from London on his private Airbus after suggestions that he might stay away to avoid having it impounded. "Was...
01:33 PM, Oct 27, 2012
UB Group chief and Kingfisher Airlines chairman Vijay Mallya is finally back in the country after his month-long overseas visit. He landed in New Delhi a short while earlier and is now at the Formula 1 track, where the qualifiers for the Indian Grand Prix will take place. Mallya, who is an F1 promoter, has arrived a week after the DGCA suspended his cash-strapped airlne's flying licence. ...
10:58 AM, Oct 27, 2012
New Delhi: In the latest twist to the Kingfisher Airlines crisis, sources on Friday said that the money to revive the cash-strapped 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 Aviation (DGCA) officials on Friday afternoon and will now meet Mallya to discuss the revival plan. The meeting came after...
02:16 PM, Oct 26, 2012
New Delhi: Cash-strapped Kingfisher Airlines employees resumed work on Friday after striking a deal with the management and agreeing to the staggered salary payment schedule proposed by the company. Reports said that many of them have received the salary for the month of March. Meanwhile, Civil Aviation Minister Ajit Singh said that the airline has to satisfy the Directorate General of Civil Aviation (DGCA) and paying salaries is not enough....
12:27 PM, Oct 26, 2012
New Delhi: The month-long stalemate at Kingfisher Airline ended on Thursday just in time for Chairman Vijay Mallya to make his appearance at the Indian Grand Prix in Greater Noida. The pilots and engineers with the cash-strapped airline will resume work after the management agreed to pay their four-month salary dues. After 25 days of protest, a lockdown and a suspension of license, the airline is limping back towards normalcy....
07:18 AM, Oct 26, 2012
New Delhi: It has been 25 days of protest, a lockdown and a suspension of licence, for Kingfisher Airlines. Its employees have finally agreed to return to work. The employees who wanted four-month salaries, agreed in the end to the management's proposal of three months' salaries. Employees, who haven't been paid since March, will now get their March salaries by Thursday, April salaries within a week, May salaries before Diwali...
09:15 PM, Oct 25, 2012
New Delhi: Troubled Kingfisher Airlines Chairman Vijay Mallya will be attending the Indian Grand Prix event at Greater Noida later this week. Mallya will be returning at a time when the airline is in the middle of a crisis. The employees of Kingfisher Airlines wanted to speak directly to Mallya on their issues, but they were not given permission to do so. They are seeking four months' pay by October...
11:07 AM, Oct 24, 2012
New Delhi: No end to the standoff between Kingfisher Airlines employees and management. The partial lockout is set to continue as the cash-strapped airlines' officials had sought time from the DGCA until Wednesday but the employees have refused a written assurance of three months salary before Diwali. They want to be paid by Thursday. The crisis in Kingfisher Airlines following a 23-day lockout is likely to prolong with a large...
08:39 AM, Oct 24, 2012
New Delhi: Kingfisher's bankers, which have over Rs 7,500 crore locked in the ailing airline, will soon meet to chart out the future course of action, said PNB Chairman and Managing Director KR Kamath. "The bankers will sit and decide what is the situation now and what they will do," Kamath said. Punjab National Bank (PNB) is part of the SBI-led consortium of 17 banks that has exposure in the...
03:53 AM, Oct 24, 2012
New Delhi: Civil Aviation Minister Ajit Singh has refused to intervene in the Kingfisher Airlines mess. He said Kingfisher is a privately owned company and so the government can't intervene and make the airline pay staff salaries. He also said that the payment alone will not be enough to make Kingfisher fly. "It is a private company, doesn't come under any ministry. Yes they have a problem, but the government...
11:24 AM, Oct 23, 2012
Catch today's top stories with CNN-IBN Editor-in-Chief Rajdeep Sardesai. ...
11:45 PM, Oct 22, 2012
Kingfisher Airlines CEO Sanjay Agarwal on Monday said that the partial lockout of the crisis-hit airlines had been extended till October 25 from the earlier date of October 23. ...
11:14 PM, Oct 22, 2012
New Delhi: Kingfisher Airlines CEO Sanjay Agarwal on Monday said that the partial lockout of the crisis-hit airlines had been extended till October 25 from the earlier date of October 23. The airline company on Monday held a closed-door meet with its employees' union in Mumbai and offered to pay three months' salary before Diwali. The employees, however, have rejected the offer, saying they wanted four months' salary in a...
08:15 PM, Oct 22, 2012
New Delhi: The crisis in the Kingfisher Airlines may have been reduced a bit after its striking employees on Monday agreed to take it three months' salary offer. A final decision from the management on the resumption of flight operations, however, is awaited. The ailing airline company on Monday offered to pay one month salary to its employees in 24 hours during a closed-door meet with the representatives of its...
06:25 PM, Oct 22, 2012
Mumbai: The ailing Kingfisher Airlines on Monday offered to pay one month salary to its employees in 24 hours during a closed-door meet with the representatives of its pilots' and employees' unions. Sources said that the airline company further offered to pay the second month salary within a week and the salaries for the third month before Diwali. However, the staff members are said to be unhappy with the offer,...
04:13 PM, Oct 22, 2012
New Delhi: In fresh trouble for cash strapped Kingfisher Airlines, at least 15 planes leased to them have been stripped clean, the leasing company sources told CNN-IBN. The 15 aircraft have been stripped of crucial parts at various airports and have been declared not fit to fly. Sources said that inspection of two aircraft in New Delhi found the passenger and cockpit interiors cleaned out. Airport authorities refused to take...
01:00 PM, Oct 22, 2012
Mumbai: Facing the real possibility of a shut down, cash-strapped Kingfisher Airlines will make one last attempt to convince its 4000 employees to return back to work on Monday. The management is slated to hold talks with them in Mumbai. This comes three days after the Directorate-General of Civil Aviation (DGCA) suspended its licence - putting the airline in further jeopardy. The employees have been seeking payments of all pending...
08:38 AM, Oct 22, 2012
New Delhi/Mumbai: Striking employees of Kingfisher Airlines on Sunday said they will meet the management to find a solution to the 20-day strike that has crippled operations and led the Directorate General of Civil Aviation (DGCA) to suspend the carrier's licence. "We will hold a meeting with the management tomorrow (Monday) in Mumbai. We also want the airline to start operations and to become viable again," a senior official who...
12:29 AM, Oct 22, 2012
Aviation regulator DGCA on Saturday suspended the licence of the financially-troubled Kingfisher Airline. ...
05:45 PM, Oct 21, 2012
Mumbai: Lenders to Kingfisher Airlines, whose combined exposure of nearly Rs 7,500 crore is at risk, have said they will go in for recovery measures only as the last resort and expressed hope that its promoters will be able to find an investor and resume operations. Aviation regulator DGCA on Saturday suspended the licence of the financially-troubled airline. "At best, we will be able to recover just 10-15 per cent...
05:18 PM, Oct 21, 2012
