Kingfisher - whats their game plan
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Gone with the WIND
Kingfisher Airlines' flying licence may be cancelled: Report
NEW DELHI: Ailing Kingfisher Airlines today faced the prospects of its flying licence being cancelled and its boss Vijay Mallya has been asked by DGCA to present a clear picture of the cash-strapped private carrier.
The Directorate General of Civil Aviation (DGCA) mulled cancellation of Kingfisher's flying permit after the airline today submitted to it the summer flight schedule with 15 to 16 aircraft as against 28 planes submitted last month.
"The airline not only lacks aircraft, they also lack funds for day-to-day operations. They are failing to meet their flight schedule, causing inconvenience to the passengers and also they failed to give salaries to their employees for past four-five months," official sources said. The sources said Kingfisher may be planning a quiet shutdown and Mallya being an "accountable" person has been asked to meet the DGCA to present a clear picture.
The whole picture is likely to become clear in few days, the officials said.
The beleaguered airline was served a show cause notice by the Civil Aviation regulator DGCA towards the end of February asking why its licence should not be suspended as it had made unannounced cancellations.
The 15-day mandatory notice period has already lapsed and they have failed to give a valid reason for curtailment of their flight schedule, most of their explanations are unsatisfactory and they have not given a definite recovery plan, officials said requesting anonymity said, adding the airline is presently operating only 15 or 16 aircraft.
Facing severe fund crunch, Vijay Mallya-promoted airline has decided to curtail its overseas flights operations to avoid further losses and also return of a leased aircraft.
According to sources, the airline has planned to suspend its overseas operations from March 25, except Delhi-London which it is withdrawing from April 9. Also the airline would return its wide body airbus A 330-200 aircraft to a lessor in the United Kingdom.
Struggling to stay afloat, around 60 accounts of Kingfisher Airlines have been frozen by the tax authorities for its failure to pay taxes after levying it from the passengers.
Angry over not being paid for four months, airline pilots reported sick, forcing the airline to curtail its scheduled flights. Mallya at a meeting with the pilots last Friday said their grievances would be looked into but did not set a time frame. He had also said the airline would come out with a crystal clear roadmap for its future in a few days.
Kingfisher has a total debt of about Rs 7,057 crore and accumulated losses of about Rs 6,000 crore.
Earlier this month, global airlines body IATA suspended Kingfisher for not clearing its dues.
This was the second time in just over a month that the airline was suspended on the same count from the IATA Clearing House (ICH) through which airlines and related firms settle accounts for services provided by them to other such companies.
NEW DELHI: Ailing Kingfisher Airlines today faced the prospects of its flying licence being cancelled and its boss Vijay Mallya has been asked by DGCA to present a clear picture of the cash-strapped private carrier.
The Directorate General of Civil Aviation (DGCA) mulled cancellation of Kingfisher's flying permit after the airline today submitted to it the summer flight schedule with 15 to 16 aircraft as against 28 planes submitted last month.
"The airline not only lacks aircraft, they also lack funds for day-to-day operations. They are failing to meet their flight schedule, causing inconvenience to the passengers and also they failed to give salaries to their employees for past four-five months," official sources said. The sources said Kingfisher may be planning a quiet shutdown and Mallya being an "accountable" person has been asked to meet the DGCA to present a clear picture.
The whole picture is likely to become clear in few days, the officials said.
The beleaguered airline was served a show cause notice by the Civil Aviation regulator DGCA towards the end of February asking why its licence should not be suspended as it had made unannounced cancellations.
The 15-day mandatory notice period has already lapsed and they have failed to give a valid reason for curtailment of their flight schedule, most of their explanations are unsatisfactory and they have not given a definite recovery plan, officials said requesting anonymity said, adding the airline is presently operating only 15 or 16 aircraft.
Facing severe fund crunch, Vijay Mallya-promoted airline has decided to curtail its overseas flights operations to avoid further losses and also return of a leased aircraft.
According to sources, the airline has planned to suspend its overseas operations from March 25, except Delhi-London which it is withdrawing from April 9. Also the airline would return its wide body airbus A 330-200 aircraft to a lessor in the United Kingdom.
Struggling to stay afloat, around 60 accounts of Kingfisher Airlines have been frozen by the tax authorities for its failure to pay taxes after levying it from the passengers.
Angry over not being paid for four months, airline pilots reported sick, forcing the airline to curtail its scheduled flights. Mallya at a meeting with the pilots last Friday said their grievances would be looked into but did not set a time frame. He had also said the airline would come out with a crystal clear roadmap for its future in a few days.
Kingfisher has a total debt of about Rs 7,057 crore and accumulated losses of about Rs 6,000 crore.
Earlier this month, global airlines body IATA suspended Kingfisher for not clearing its dues.
This was the second time in just over a month that the airline was suspended on the same count from the IATA Clearing House (ICH) through which airlines and related firms settle accounts for services provided by them to other such companies.
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Last of the rats deserting a sinking ship.
Last independent Kingfisher Airlines director quits - Business News - IBNLive
Last independent Kingfisher Airlines director quits - Business News - IBNLive
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If both, Playboy & Shorty had left Deccan & Sahara to their respective fates, the Indian aviation scenario would have been much better. But greed & one upmanship has left both biting the bullet and with them employees of their organizations, though for no fault of theirs except reposing trust in them, while the Parivar Honcho & Baldy went laughing all the way to the bank.
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Kingfisher suspends all International flights
Kingfisher to suspend all international flights, says Vijay Mallya
Kingfisher to suspend all international flights, says Vijay Mallya
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lost bird in Amman Jordan
Spotted a little Kingfisher in Amman today...
It looked very lost.
Is Jordan on the migratory route for these birds.
Sorry did not get close enough for regn.
Glf
It looked very lost.
Is Jordan on the migratory route for these birds.
Sorry did not get close enough for regn.
Glf
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Emirates Says ‘Whole Load of Airlines’ Will Fail in Fuel Squeeze - Bloomberg
He further added that Emirates is not looking for any acquisitions.
He further added that Emirates is not looking for any acquisitions.
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From Kingfisher to Qatar?
Any truth to the rumour that scads of Kingfisher Airbus (not sure about ATR) pilots are interviewing with Qatar?
Wouldn't surprise me as I just read that Qatar hired 60 former Spanair A320 Captains as DEC. Qatar needs more and more pilots to cover both fleet growth and pilot attrition...
Wouldn't surprise me as I just read that Qatar hired 60 former Spanair A320 Captains as DEC. Qatar needs more and more pilots to cover both fleet growth and pilot attrition...
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what i can`t understand is why India`s pilots, put up with nonsense like "no pay for 3 months", if u guys down tools all together then the result will be one way or the other much sooner, you could not have thought the end would be different considering all the water thats gone under the bridge already?
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As I have said before I have worked in India but not in sector.
The country needs to wake up to corporate governance - clear out the deadwood bring on the green shoots.
But the paternal hierachial society won't let it.
So people in these BRIC economies suffer.
One day - a level playing field with the Europe and the US where you couldn't get away with these practices?
The country needs to wake up to corporate governance - clear out the deadwood bring on the green shoots.
But the paternal hierachial society won't let it.
So people in these BRIC economies suffer.
One day - a level playing field with the Europe and the US where you couldn't get away with these practices?
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Join Date: Jun 2007
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