Kingfisher Airlines should infuse at least Rs 2,000 crore as capital for reviving the carrier, State Bank of India Chairman Pratip Chaudhuri said on Saturday. Kingfisher Airlines, promoted by Vijay Mallya, owes Rs 7,500 crore to a consortium of 17 banks led by SBI. ...
01:37 AM, Jan 20, 2013
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. ...
09:27 PM, Jan 18, 2013
Vijay Mallya-owned Kingfisher Airlines on January 16 approached the Supreme Court challenging the Karnataka High Court's order directing it to deposit around 185 crores with the Income Tax Department as tax deducted at source (TDS) from its employees' wages. ...
05:53 PM, Jan 16, 2013
Kingfisher Airlines has been given a "no objection certificate" from oil companies and some aircraft leasing companies to restart operations, a senior regulatory source said on Wednesday. Kingfisher shares extended gains to 6 percent on the news. ...
11:34 AM, Jan 16, 2013
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. ...
11:42 AM, Jan 11, 2013
In more trouble for beleaguered Kingfisher Airlines, Service Tax Department has issued a notice to the carrier, "impounding" all its aircraft, department sources said on Thursday night. According to the notice, the airline cannot fly outside the registered airport premises. ...
11:04 PM, Jan 10, 2013
With employees threatening to move court for closure of the company, Kingfisher Airlines chairman Vijay Mallya on January 10 finally broke his silence through a letter to his employees saying the management is making every effort to restart operations. At the same time, Mallya urged the employees to be careful in their interaction with the media, alleging "negative reporting" by media on the carrier. ...
12:32 PM, Jan 10, 2013
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 time-line for clearing their salary dues of eight months. ...
05:32 PM, Jan 09, 2013
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. We don't want to put a lock on the company's office," the Chairman of SBI, lead lender to Kingfisher, Pratip Chaudhuri said...
05:30 AM, Jan 08, 2013
A consortium of lenders, led by State Bank of India, on Friday opposed ailing Kingfisher Airlines' plan to resume operations and insisted on "better commitments" from the carrier. The meeting between lenders and the KFA management in Bangalore remained inconclusive as the bankers were "not impressed" with the revival plan, sources said. ...
10:25 PM, Jan 04, 2013
Jet Airways Ltd is the frontrunner for an investment by Gulf carrier Etihad Airways, a senior government source told reporters on Wednesday, adding a deal was likely in 10 days. ...
05:20 PM, Jan 02, 2013
Kingfisher Airlines said expiration of its operating licenses, 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. ...
12:39 AM, Jan 01, 2013
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 cash-strapped carrier would be renewed if its revival plan gets a go-ahead. ...
01:49 PM, Dec 31, 2012
Suspension of flights by crisis-hit 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 high profits, the airlines would not have been making losses. But, the fact is none of them is making profits, so you...
02:40 AM, Dec 31, 2012
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 by the Maldives government. ...
11:46 AM, Dec 28, 2012
A revival plan submitted to the aviation regulator by grounded carrier Kingfisher is not backed by a clear funding proposal, the aviation minister said on December 26. ...
04:41 PM, Dec 26, 2012
Shares of Kingfisher Airlines on Monday rose 5 per cent to touch the day's highest permissible limit after it submitted revival plan to aviation regulator DGCA in a bid to restart limited operations. ...
04:28 AM, Dec 25, 2012
Financially stretched Kingfisher Airlines on Monday submitted its revival plans to the aviation regulator which had cancelled its flying licence over safety concerns. "They (Kingfisher Airlines) submitted their revival plans to the director general of civil aviation (DGCA) in a meeting held today (Monday)," a civil aviation ministry source said. ...
04:08 PM, Dec 24, 2012
New Delhi: Germany's DVB Bank SE has sued aviation regulator Directorate General of Civil Aviation (DGCA) and Kingfisher Airlines to have two planes it financed for the troubled carrier deregistered, a possible first step towards recouping its funds. The case underlines the problems that leasing firms and financing companies face in recovering grounded planes from Kingfisher, as airports, banks and tax authorities scramble for the crisis-hit carrier's assets. International Lease...
01:40 AM, Dec 22, 2012
New Delhi: Grounded carrier Kingfisher Airlines has applied for renewal of its operating licenses but no permit will be given until it submits a revival plan, a senior aviation regulatory source said in New Delhi on Thursday. The source, who declined to be identified also told reporters that the airline can seek license renewal within two years from December 31, 2012. ...
07:55 PM, Dec 20, 2012
