“History repeats itself, first as tragedy, second as farce.”
Karl Marx
Rediff On The Net Business News: Why private airlines in India are in such bad shape
What an uncanny resemblance.
"In June last year, the DGCA sent him a notice of deregistration of two of his Boeings. Reason: he owed the American firm, PLM Equipment and Transport, close to $ 1.4 million in lease rentals. He made his ad agency R K Swamy run around in circles for a mere Rs 30 million; he defaulted on payment of Rs 5.6 million to a television software company; till September last year he owed over Rs 7 million in inland air travel tax and last December he refused to pay Rs 60 million to the Taj group of hotels which caters to his airline till it threatened to go to court against him."