Union Civil Aviation Minister on Tuesday said that aviation regulator Directorate General of Civil Aviation (DGCA) had not received any revival plan from the Kingfisher Airlines. It is vital that the cash-strapped airline satisfies the DGCA before resuming its operations that it has enough financial strength. ...
04:54 PM, Dec 18, 2012
Gulf carrier Etihad Airways, seeking to widen operations in India and other Asian markets, is in the final stages of talks to buy part of either Jet Airways or grounded rival Kingfisher Airlines, an Indian government official said on Monday. A deal, which the official said could be announced by next week, would be the first since the government relaxed ownership rules in September to allow foreign airlines to invest...
08:12 AM, Dec 18, 2012
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 cash-strapped airline will start its operations in a phased manner. ...
09:00 PM, Dec 17, 2012
State Bank of India (SBI) on Saturday said there is no need for lenders to panic as the cash-strapped 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 set of problems. And there is no reason for bankers to panic as long as they say that they are looking for...
01:17 AM, Dec 16, 2012
The State Bank of India (SBI) on Saturday said there was no need for lenders to panic as the cash-strapped Kingfisher Airlines was 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 set of problems," said the bank. ...
06:58 PM, Dec 15, 2012
Kingfisher Airlines on Tuesday said it is in discussions with several investors for equity partnership, including Gulf-based Etihad Airways, but denied any deal with any of them, even as it lost seven more aircraft due to non-payment of lease rentals and tax dues. "We would like to clarify that the company is in discussions with various investors, including Etihad Airways, for equity investments," Kingfisher said in a filing to BSE....
06:50 PM, Dec 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 impounded as the airline has defaulted on service tax dues of Rs 200 crore. ...
02:17 PM, Dec 11, 2012
There is more trouble for Kingfisher Airlines on the ground at the Mumbai airport. Sources have indicated to CNN-IBN that the airline has received a notice from the Mumbai Airport authorities asking the carrier to vacate the airport premises, landing slots and office area. Sources add that the notice has been served after Kingfisher failed to pay airport dues to the tune of Rs 50 crore. ...
01:10 PM, Dec 11, 2012
Gulf carrier Etihad Airways is close to buying a 48 per cent stake in debt-ridden Indian carrier Kingfisher Airlines for a little over Rs 3000 crore, the Mumbai Mirror reported on Tuesday. A formal announcement of the deal could come around December 18, the birthday of Kingfisher's flamboyant chairman, Vijay Mallya, the newspaper said, without saying how it got the information. ...
10:51 AM, Dec 11, 2012
In another blow to the crisis-hit Kingfisher Airlines, the Mumbai Service Tax has begun impounding the airlines' aircraft. One aircraft has been seized and another is in the process of detention. ...
10:21 AM, Dec 11, 2012
State Bank of India, the lead banker in the 17-lenders consortium that extended Rs 7,000 crore loans to the now grounded Kingfisher Airlines, on Wednesday said the banks are "trying to do everything to find an amicable solution" to the carrier's financial troubles. The SBI comment comes a week after the expiry of deadline that the lenders had set to the airline management to come up with a revival plan,...
05:23 PM, Dec 05, 2012
Having failed to receive their May salary as assured by the Kingfisher management, the airline pilots have now threatened to approach DGCA if they did not meet the commitment by Friday even as the regulator maintained that the issue is out of its purview. "We have written to the airline's chief executive that if our salaries are not paid by Friday we will approach the Director General Civil Aviation to...
03:18 PM, Nov 30, 2012
Industry body Assocham on Monday suggested a bailout for the grounded Kingfisher Airlines following the government's decision to rescue the ailing national carrier Air India, saying there is no difference in the financial woes of both the airlines. ...
05:21 PM, Nov 26, 2012
With barely a week left ahead of the November 30 deadline set by bankers to pump in fresh capital into the grounded Kingfisher Airlines, the lead lender State Bank of India on Saturday said it has not heard from the company so far. ...
05:16 PM, Nov 24, 2012
New Delhi: The Revenue Department is working on a comprehensive plan to recover tax dues from debt-ridden Kingfisher Airlines (KFA), which owes more than Rs 200 crore to the exchequer, a top Finance Ministry official said on Tuesday. "As a matter of fact both Central Board of Direct Taxes (CBDT) and Central Board of Excise and Customs (CBEC) have quantified the amount which Kingfisher owe to the government and we...
03:09 AM, Nov 21, 2012
Mumbai: The grounded Kingfisher Airlines on Friday started paying salary for the month of May to its lower level staff and some cabin crew while there was no word about salary dues of pilots and engineers. "Only cabin crew and low rung staff have received their May salary," pilots and engineers said, adding "we still have no word from the airline about our dues." Vijay Mallya-owned private carrier, which is...
09:20 PM, Nov 16, 2012
New Delhi: Cash-strapped Kingfisher Airlines, which is yet to pay part dues to its employees, has sought more time to submit a comprehensive revival plan to the aviation regulator DGCA. The beleaguered carrier has written a letter to Civil Aviation Secretary KN Shrivastava seeking more time to submit its plan to get the suspension of its flying permit revoked, sources said. In the letter, the liquor baron Vijay Mallya-owned airline...
08:30 PM, Nov 15, 2012
Mumbai: Kingfisher Airline employees, who have not received their May salary despite an assurance from the airline management, are likely to chalk out an action plan next week, if they do not receive their dues by November 17. "Diwali has come and gone but we have still not received the salary for the month of May. The management, as usual, has once again backtracked on its commitment and there is...
08:09 PM, Nov 14, 2012
Mumbai/Delhi: Liquor baron Vijay Mallya's $2.1 billion deal to sell a stake in United Spirits could throw a lifeline to his grounded Kingfisher Airlines, although pulling the carrier back from the brink will not be easy. The flamboyant "King of Good Times" is keeping his plans to himself for now. However, his decision to give up control of his group's flagship company as Kingfisher heads towards the point of no...
07:11 PM, Nov 14, 2012
Mumbai: Around 3,000 employees of the near-bankrupt Kingfisher Airlines were left in the dark on Diwali after the management failed to pay their May salary, despite its commitment that their dues will be cleared by the festival. Kingfisher has so far only paid April salary post the calling off of the strike. This too was paid with a delay of a couple of days than the promised date. Kingfisher management...
12:11 PM, Nov 13, 2012
