Kingfisher sinking like the Titanic

[Kingfisher320]

Dubai Aerospace Enterprise acquired three Kingfisher Airlines A330-200s delivered this year in a sale/leaseback transaction....BRAVO

Last month they couldn't even pay there employees on time...where is all the Mallya money everyone keep talking about? Its all smoking mirrows. No rupees in bank by the 7TH....yeaaa..you will see those planes fly allright.

They fired a capt...then they try to re-hire the same Capt. back after a week......The numbers are coming in...People are leaving, including Indian Capt's....Sit back relax and enjoy the ride.

[Rotorhead1026]

"hehehe" indeed.


I hope you'll pardon me if I say I don't think this is funny. Seeing a rich playboy getting his comeuppance is one thing - when only he is affected. His company, however, consists of real people with real problems and dreams. I've been in a similar situation and it's not fun. For their sake I hope it turns around somehow, even if they're a competitor.

smoking mirrows

The term is "smoke and mirrors" ...

[sky jet]

Amen to that. The only people who gloat about this kind of news are those who have not lived through it once or twice. (Or thrice or more in some cases) Some seem to think that if just one airline in India would fail all the rest would be on wine and roses. If the airline industry in the US is any indication, there will always be someone with more ego and money than brains who will take a look and think they can start an airline and fill the supposed void left in the marketplace by a failure. This is exactly the kind of time when that happens too. Lots of surplus aircraft that can be had cheap, and lots of desperate unemployed airline people on the street. If any airline does not make it you can bet that there will be one or two that try to start. Hell, the Deccan guy was making rumblings in the press 2 weeks ago that he might like to get back in the game. Instead of getting giddy over rumors of someones problems lets hope for a general improvement in the whole economy of the world. In a good economy there is MORE than enough buisness in India for all of the players, and maybe even a few more.

Sky Jet

[jet_737ng]

Jet also gave its salary a day late .. it was due to a bank holiday on the day before..KF in trouble but so is every body else .. I just hope no-one sinks .dont want see any one jobless including people i dont like... KF management is bad but the next door guy is just marginally better

[Nevrekar]

Many of us have been through several downturns elsewhere and it is no fun at all. An airline that has to shut down or layoff affects the lives of many individuals. Some of these individuals do not have the luxury of being able to go elsewhere and have to thus face severe hardships. Just ask the guys at the legacy carriers in the U.S. who for many years never thought their jobs and livelihood would be in danger.

As far as payroll Spicejet is still as always EARLY on the pay
I got paid sometime in the past 48 hrs.

[Oceanic]

Kingfisher, you're an idiot to gloat at others misfortune. I hope you get your comeuppance for being such a pr**k.

[Holycow]

Kingfisher, the hehehe was not nice.
But keep writing, seems you have good sources, as one saying says: lucky are those who are prepared

[asvsu]

Kingfisher A320

Kingfisher 320..

As Rotorhead1026 said..feel for the people who r there in KFA ..with lots of dreams...

I feel really pity for your near and dears..your will spoil. everyone.where ever you go..plz..change your attitude..if you dont like a company just leave it..dont try to keep throwing ****....i read all ur messages ..you are gonna settle in a new job it seems..concentrate in that instead of ..xxxx..the same old..xxxx_____

[Boeing7xx]

Kingfisher320, the 'hehehe' is in poor taste. I'm sure we've all been through tough times within the organizations we've worked for. Having someone make a mockery of the difficulties sure pinches somewhere. Not being over-sensitive on the issue but some compassion might be a good thing. I'm sure you wouldn't want to be in those shoes.

[condorbaaz]

Salary delayed in Kingfisher for first time..

Due to

Bank Holiday 30 sep
festival 1 oct
national Holiday 2 oct
WORKING FRIDAY 3 Oct Too much load on bank staff due to holidays etc
Sat 4
Sun 5
Salary paid Sixth...

As explained to my friend in the company

[av8r76]

I'm sure 320 regrets that unfortunate quote. It seems like he/she has been treated unfairly/poorly by KF but dude, you need to look beyond your air conditioned house, car and cockpit and realise the hard work and toiling ground and other support staff endure with uncertain futures and few alternatives to employment within and outside of the industry.

Plenty of people who live paycheck to paycheck and depend on this airline's employment to support themselves and their families. Like a significant portion of the industry I too have suffered through a bankruptcy and I tell you my friend it is not pretty.

good luck with your future employer(s).

[Left Wing]

most of the quality staff will jump to middle east airlines...same goes for crew...

[Doodles]

It strikes me that in addition to a massive fall off in local traffic demand (affecting all local airlines) there is a severe currency issue too. KFA has ordered so many aircraft, all of which required pre delivery payments in USD. Then they have to pay the leases and maintenance coverage on that fleet, again all in USD.

Maybe they should have waited for the international services to start, establish, and produce some cash (USD), before comitting to so many large aircraft.

All the "red" tails lining up outside the factory is not good for anyone and certainly no cause to gloat or joke.

The government must relax some of the local tax rules to enable KFA and Jet to work out a solution. For their part, KFA and Jet have to re-organise themselves and fast. The banks will be very scared now. This is no time for waiting, delaying or dare I say, egos.

Good luck

[B772]

Is it true the Kingfisher owner does not have a strong aviation background and was 'conned' by John Leahy the Airbus conartist to order all the Airbus aircraft including the executive jet. How long will it be before the A380 order is cancelled.

[arka]

Yaeh!I got info from my friends salary for october are delaying????How many days????Hwo nows!!!Re-hiring captans back!!!???I dont think so!!Still mooore lay-offs are expecting!Titanik is sinking very sure!!

[getsetgo]

donot jump in to dark sea

i think with sale of 330"s more cash flow will be in kingfisher.
its so easy for kingfisher to get cash flow in to this venture.
any way no point getting big a/c when there are no passengers.

well kingfisher320 jumped for reasons not clear(suffocated, strangled, kicked?)
may be kicked looking at his acts.
give him time to breath.
his emotions are but natural.

he should have jumped to push his ship to save the airline,and jobs.
matter of time when the things improve with fuel price and passengers.

[Holycow]

Kingfisher defaults on aircraft lease payment

Looks like Kingfisher will lose some more aircraft

Kingfisher defaults on aircraft lease payment- Airlines / Aviation-Transportation-News By Industry-News-The Economic Times

[Capt.Bee]

"The official, however, admitted that Kingfisher had some disputes with GECAS on the terms of return of the aircraft and accused the US company of being “unreasonable.” Kingfisher Airlines declined to give details of the dispute on the ground that it was before the court. “GE treats its business and customer discussions with high confidentiality and is unable to disclose any details,” a GECAS spokesperson said."
It looks like the guys from GECAS have to start learning business the indian way.

[leftseatview]

The dispute appears to be over the penalty clause for returning the A/c earlier than the originally planned lease period,due excess capacity now.
The lease company just wants its pound of flesh,and couldnt be bothered about the global downturn.
This is just the kind of attitude which has led to the present global economic crisis in the first place.

[Rotorhead1026]

kind of attitude which has led to the present global economic crisis in the first place

In what sense? It started with the government forcing banks to loan money to bad risks (and was propelled by a lot of greed and stupidity by all hands downline).

Nobody forced Mallya to take those jets. If he signed an agreement to pay a penalty for an early return, he should pay it. Period. He's got the money. NOT PAYING UP is at the heart of this global financial "issue" - albeit mostly by people who don't have the resources to do so. Ol' Vijay has the resources. That stated, with friends in government he might get away with this - but he'll pay a price later.

[Followup - the last blog I read said this is a straight repo case, but I don't know for sure]

off a leasing company is foolish, really. As long as they have other "good" customers you'll get nothing but terrible terms for years and be at a competitive disadvantage. My old company actually dissed BOEING and took it in the shorts bigtime.

Mallya had better start minding the store. If he already is, he better step aside and get somebody who knows the job. THAT'S at the heart of KINGFISHER'S problems! Good luck to the employees, though - I hope this gets resolved satisfactorily - somehow.