Murdering the Maharaja
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copied and reproduced here for all
Citizen of India (unregistered) wrote:
Most people of this country have a common ground of hatred towards pilots mainly because of their so called high salary structure. One must first understand that no professional on this planet earns more than what they are due for. So let us first stop blaming the airline's losses on pilots' salaries. On the contrary they earn a lot less than a lot of people in the corporates do.
Air India has been systematically sabotaged over many years by various goverments.
The sabotage began when TATA & Singapore Airlines were not allowed to take over Air India back in the late 1990s. This process of privatisation was squashed by Late Mr PRAMOD MAHAJAN & NARESH GOYAL for obvious reasons. Mr Ratan Tata would surely be able to throw more light on this subject if he wishes to. During that time, one of the privatisation clauses was as follows : The Company taking over Air India would enjoy a 5 year monopoly on international sectors before opening up the same to the indian private carriers. This would give sufficient time to the Company taking over to turn the airline into a profit making body before facing competion from the private carriers. As of today, only a fool will invest in Air India with all its bilaterals given away to all the private Indian & foreign carriers.
Later on both Mr Naresh Goyal & Vijay Mallya have used Mr Praful Patel to gang rape Air India in every possible manner to assure its extinction. Even though Air India was in need of new aircafts, the minister went overboard to order an obnoxious number of aircrafts which would serve them in three ways. Firstly, LARGER THE ORDER LARGER THE KICKBACK. Secondly, the order would put Air India into a permanent debt which will assure its extinction. Thirdly, when the airline goes bankrupt, its brand new aircrafts can be picked up by Mr Goyal at throw away prices.
If the above was not enough to ensure Air India's extinction, Mr Praful Patel went ahead and sold more than 200 acres of Air India's land at throw away prices. The land that has been gifted away can be valued at anywhere from 150000-200000 crores (bigger than the 2G scam).
There have been innumerable scams indulged in by various ministers over a period of time. Some of them are as follows:
1) Wet leasing and Dry leasing of aircrafts with huge kickbacks.
2) Recruitment of foreign pilots through certain recruitment agencies. Kickbacks from this could amount to close to 1000 dollars per pilot per month.
3) Stopping operations on profitable routes. Private carriers start operating on those routes as soon as Air India stops.
4) Few employees of Air India from the Commercial Department were suspended for sabotaging Air India flights between India and the US. These employees were showing these flights as FULL even though they werent. The passengers were then redirected to Jet Airaways. Therefore the passengers who could have flown to/from the US direct, had to fly in Jet Airways via Brussels. It is worth noting that THE MANAGEMENT HAS REINSTATED ALL OF THOSE RUTHLESS EMPLYEES (so that they dont blow the whistle).
5) The biggest scam was MERGER. The merger was initiated so that both the erstwhile Air India & Indian Airlines could fly into the Gulf under a common code. This allows an oppertunity to another Indian Carrier to operate into the Gulf. IT IS WORTH NOTING THAT JET AIRWAYS STARTED OPERATING TO THE GULF AS SOON AS AIR INDIA AND INDIAN AIRLINES WERE MERGED.
6) Etc
One can simply go on and on about the scams in Air India ( especially by Mr Praful Patel). THE AIR INDIA SCAM CAN EASILY BE OF TWICE THE MAGNITUDE OF THE 2G SCAM.
Let us give full marks to the pilots who have had the courage to come out their comfort zone and gone on an indefinate strike risking their careers for a noble cause. If they hadn't, the passengers may not have been inconvenienced today, but would have had to pay a heavy and permanent price in the near future following the Maharaja's demise. Once the Maharaja kicks the bucket, the PRIVATE CARRIERS WILL NOT WASTE A SINGLE DAY BEFORE EXPLOITING THE CITIZENS OF THIS COUNTRY BY MEANS OF HIGHER AIR FARES.
My appeal to all citizens of this country: Lets come together and use all our resources to fight this corruption. Lets us not be exploited by the likes of Mr Praful Patel, Naresh Goyal & Vijay Mallya.
WE NEED THE MAHARAJA MORE THAN THE MAHARAJA NEEDS US.... THE DEATH OF THE MAHARAJA WILL LEAD TO THE DEATH OF FAITH IN THE HEARTS AND MINDS OF EVERY INDIAN AND WILL PAVE THE WAY TO AN ERA OF CRONY CAPITALISM....
MR RATAN TATA.... PLEASE RESCUE THIS AIRLINE, BUILT SO PASSIONATELY BY MR JRD TATA TO BE ONE OF THE BEST AIRLINES IN THE WORLD AND INDIA'S PRIDE....
Citizen of India (unregistered) wrote:
Most people of this country have a common ground of hatred towards pilots mainly because of their so called high salary structure. One must first understand that no professional on this planet earns more than what they are due for. So let us first stop blaming the airline's losses on pilots' salaries. On the contrary they earn a lot less than a lot of people in the corporates do.
Air India has been systematically sabotaged over many years by various goverments.
The sabotage began when TATA & Singapore Airlines were not allowed to take over Air India back in the late 1990s. This process of privatisation was squashed by Late Mr PRAMOD MAHAJAN & NARESH GOYAL for obvious reasons. Mr Ratan Tata would surely be able to throw more light on this subject if he wishes to. During that time, one of the privatisation clauses was as follows : The Company taking over Air India would enjoy a 5 year monopoly on international sectors before opening up the same to the indian private carriers. This would give sufficient time to the Company taking over to turn the airline into a profit making body before facing competion from the private carriers. As of today, only a fool will invest in Air India with all its bilaterals given away to all the private Indian & foreign carriers.
Later on both Mr Naresh Goyal & Vijay Mallya have used Mr Praful Patel to gang rape Air India in every possible manner to assure its extinction. Even though Air India was in need of new aircafts, the minister went overboard to order an obnoxious number of aircrafts which would serve them in three ways. Firstly, LARGER THE ORDER LARGER THE KICKBACK. Secondly, the order would put Air India into a permanent debt which will assure its extinction. Thirdly, when the airline goes bankrupt, its brand new aircrafts can be picked up by Mr Goyal at throw away prices.
If the above was not enough to ensure Air India's extinction, Mr Praful Patel went ahead and sold more than 200 acres of Air India's land at throw away prices. The land that has been gifted away can be valued at anywhere from 150000-200000 crores (bigger than the 2G scam).
There have been innumerable scams indulged in by various ministers over a period of time. Some of them are as follows:
1) Wet leasing and Dry leasing of aircrafts with huge kickbacks.
2) Recruitment of foreign pilots through certain recruitment agencies. Kickbacks from this could amount to close to 1000 dollars per pilot per month.
3) Stopping operations on profitable routes. Private carriers start operating on those routes as soon as Air India stops.
4) Few employees of Air India from the Commercial Department were suspended for sabotaging Air India flights between India and the US. These employees were showing these flights as FULL even though they werent. The passengers were then redirected to Jet Airaways. Therefore the passengers who could have flown to/from the US direct, had to fly in Jet Airways via Brussels. It is worth noting that THE MANAGEMENT HAS REINSTATED ALL OF THOSE RUTHLESS EMPLYEES (so that they dont blow the whistle).
5) The biggest scam was MERGER. The merger was initiated so that both the erstwhile Air India & Indian Airlines could fly into the Gulf under a common code. This allows an oppertunity to another Indian Carrier to operate into the Gulf. IT IS WORTH NOTING THAT JET AIRWAYS STARTED OPERATING TO THE GULF AS SOON AS AIR INDIA AND INDIAN AIRLINES WERE MERGED.
6) Etc
One can simply go on and on about the scams in Air India ( especially by Mr Praful Patel). THE AIR INDIA SCAM CAN EASILY BE OF TWICE THE MAGNITUDE OF THE 2G SCAM.
Let us give full marks to the pilots who have had the courage to come out their comfort zone and gone on an indefinate strike risking their careers for a noble cause. If they hadn't, the passengers may not have been inconvenienced today, but would have had to pay a heavy and permanent price in the near future following the Maharaja's demise. Once the Maharaja kicks the bucket, the PRIVATE CARRIERS WILL NOT WASTE A SINGLE DAY BEFORE EXPLOITING THE CITIZENS OF THIS COUNTRY BY MEANS OF HIGHER AIR FARES.
My appeal to all citizens of this country: Lets come together and use all our resources to fight this corruption. Lets us not be exploited by the likes of Mr Praful Patel, Naresh Goyal & Vijay Mallya.
WE NEED THE MAHARAJA MORE THAN THE MAHARAJA NEEDS US.... THE DEATH OF THE MAHARAJA WILL LEAD TO THE DEATH OF FAITH IN THE HEARTS AND MINDS OF EVERY INDIAN AND WILL PAVE THE WAY TO AN ERA OF CRONY CAPITALISM....
MR RATAN TATA.... PLEASE RESCUE THIS AIRLINE, BUILT SO PASSIONATELY BY MR JRD TATA TO BE ONE OF THE BEST AIRLINES IN THE WORLD AND INDIA'S PRIDE....
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So now,I am confused.
Is Naresh Goyal or Vijay Mallaya the enemy? Or is it the entire private airlines cartel against AI/IC? Or is the enemy the Ministers of Civil Aviation past and present? Or all of the above??Is the curent dispute about saving AI/IC or pay parity etc?
I have flown as self loading freight on many airlines across the world.AI ,by far, had the worst service starting from ticketing and all the way to cabin crew service.IC, until the private guys showed up had no need to compete and that showed in their service.But, in the domestic sector, they were the one eyed man in the land of the blind so they did not care.
Both airlines need an overhaul.Is privatisation the route? Maybe.But,if it means that a flag carrier of the country will be no more, after 70 years,I have mixed feelings about that. After all, there was/is only one Panam,one BOAC,one Lufthansa. Air India ranks among these airlines, if only to fly the flag.Jet,KF,etc. don't even come close to that giant name brand.
Alt3
Is Naresh Goyal or Vijay Mallaya the enemy? Or is it the entire private airlines cartel against AI/IC? Or is the enemy the Ministers of Civil Aviation past and present? Or all of the above??Is the curent dispute about saving AI/IC or pay parity etc? I have flown as self loading freight on many airlines across the world.AI ,by far, had the worst service starting from ticketing and all the way to cabin crew service.IC, until the private guys showed up had no need to compete and that showed in their service.But, in the domestic sector, they were the one eyed man in the land of the blind so they did not care.
Both airlines need an overhaul.Is privatisation the route? Maybe.But,if it means that a flag carrier of the country will be no more, after 70 years,I have mixed feelings about that. After all, there was/is only one Panam,one BOAC,one Lufthansa. Air India ranks among these airlines, if only to fly the flag.Jet,KF,etc. don't even come close to that giant name brand.
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royskaria
Sorry no such luck there working with any airline whatsoever, just the flying public. Have over a million miles under the belt, very few with AI / IA primarily before privatization cause of the attitude none after 2002.
Please do note I am not condoning the raping of the national carrier by our politicians, but simply stating that the rot is in almost every staff there directly or indirectly. Some are stooges of the politicians and others stooges of stooges. A few innocents do get caught in the cross fire.
By the way do you work for Jet as you seem to badger KF and Indigo but seem to omit some of NG deeds prior to KF. If I am not mistaken he was also accused for similar crimes before KF came along.
And Gopi........still think the attention of the common man got to him. VM, a shrewd business man??? Buddy he sells alcohol which weathers all inflation and recession. With such cash flows he thinks thru his arse.
Ambanis: What PR man...........
Sorry no such luck there working with any airline whatsoever, just the flying public. Have over a million miles under the belt, very few with AI / IA primarily before privatization cause of the attitude none after 2002.
Please do note I am not condoning the raping of the national carrier by our politicians, but simply stating that the rot is in almost every staff there directly or indirectly. Some are stooges of the politicians and others stooges of stooges. A few innocents do get caught in the cross fire.
By the way do you work for Jet as you seem to badger KF and Indigo but seem to omit some of NG deeds prior to KF. If I am not mistaken he was also accused for similar crimes before KF came along.
And Gopi........still think the attention of the common man got to him. VM, a shrewd business man??? Buddy he sells alcohol which weathers all inflation and recession. With such cash flows he thinks thru his arse.
Ambanis: What PR man...........
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@alloute3: The post made by rdr is taken from an anonymous comment left on my blog and the contents of them cannot be independently verified. The person in question seems to be now working in a Middle-eastern carrier (inference based on some photos seen on a social networking site).
I have received many emails in support, most touching of all was from some staff of a rival airline (Jet Airways). Pilots all over go through the same hardship and heartbreak when they see their jobs under threat. This kind of support is heartening indeed!
After all , what is to stop corporate raiders from using the same tactic to tomorrow go after Jet. These people did the same thing to Air Deccan: drove down the valuation of the airline, picked it up for cheap and then sold off the assets piecemeal for a profit. Now they are trying to do it with Air INdia, adn next it could be Jet (though rumors are the next target for the raider is Go Airways).
Is the article about saving air india? Not in the least! It is about saving Indian aviation and cleaning up the Civil Aviation Ministry in the same way as people earlier did with Telecom. Air India itself needs to be privatised: but as I have said in my blog: it has to be done after the valuations have been set right. A 3 year period in which the house can be set in order and the airline can be sold through either strategic sale (to the Tata's or the Dhoots of Videocon and others who have shown interest in the past) or through an IPO.
This is one instance where we can see how corruption can destroy the aviation industry and put thousands of jobs at risk only for the benefit of some corporate shark. We cannot and will not let that happen!
I have received many emails in support, most touching of all was from some staff of a rival airline (Jet Airways). Pilots all over go through the same hardship and heartbreak when they see their jobs under threat. This kind of support is heartening indeed!
After all , what is to stop corporate raiders from using the same tactic to tomorrow go after Jet. These people did the same thing to Air Deccan: drove down the valuation of the airline, picked it up for cheap and then sold off the assets piecemeal for a profit. Now they are trying to do it with Air INdia, adn next it could be Jet (though rumors are the next target for the raider is Go Airways).
Is the article about saving air india? Not in the least! It is about saving Indian aviation and cleaning up the Civil Aviation Ministry in the same way as people earlier did with Telecom. Air India itself needs to be privatised: but as I have said in my blog: it has to be done after the valuations have been set right. A 3 year period in which the house can be set in order and the airline can be sold through either strategic sale (to the Tata's or the Dhoots of Videocon and others who have shown interest in the past) or through an IPO.
This is one instance where we can see how corruption can destroy the aviation industry and put thousands of jobs at risk only for the benefit of some corporate shark. We cannot and will not let that happen!
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@royskaria
Not sure if you know how valuations are done, however do some research on the Valuation Gopi got for his airline (which by the way was listed at that time and he got a premium over market cap at that time) to where it is trading. If memory serves me correct he got about 290 a share. I think it is at Rs 42 today. Highest it has ever reached is from when gopi sold out a ridiculous P/E. So not sure if VM timed it correct. So if VM drove down valuation it hurt him the most.
Driving a valuation down would mean Air India is listed on the BSE or NSE. Not sure it is, so then what would drive such an industry down! Efficiency of operations and that starts with staff strength and employee unions. Brand, Landing and airport rights and aircraft on order cannot get diluted at all in spite of the apathy. These are the only strengths AI has at the moment. A smart PE or strategic investor would ask AI to shed flab (staff) and cut payroll (staff) and automatically get a huge jump in valuation especially if the union was tamed and brought on the same page for turnaround. Hmmm now that makes me think do you think the government is trying to do just that at the moment.?
Trust me no employee likes to lose his/her job as well as lifestyle they have gotten used to. Trust me a corporate is driven to expand and show returns to investors. Too many market forces pulling here and maybe it is good if there is a total showdown which will allow the airline to be set free from government shackles. That I can assure you will not be acceptable to the staff also as it means they will be parachuted into corporate reality.
Beauty of capitalism.
PS: Edit: Jet airways will only become a target if their share holding drops below a certain level. Don't think it is close to it. SEBI however has set a mandate for listed companies to increase float to ensure that such risks come into the system to ensure efficiencies. GO air unfortunately is not listed so cannot suffer "corporate raiding", but sure the promoters can try and cash out for a tidy profit if they so desire and if the MRTPC act determines it is not illegal. On the other hand Paramount is a perfect example of him trying to create a product to sell of to corporate raiders and failing miserably in spite of his PR.
Are you part of the red parties? Just an observation as corporates seem to be a bad and evil word in your dictionary. FYI free market enterprise cannot dictate who a product will be sold to. I believe Mr Raja is in Jail for attempting just that. And setting valuation correct would mean letting go many more employees.................now lets see how that would work out.
Not sure if you know how valuations are done, however do some research on the Valuation Gopi got for his airline (which by the way was listed at that time and he got a premium over market cap at that time) to where it is trading. If memory serves me correct he got about 290 a share. I think it is at Rs 42 today. Highest it has ever reached is from when gopi sold out a ridiculous P/E. So not sure if VM timed it correct. So if VM drove down valuation it hurt him the most.
Driving a valuation down would mean Air India is listed on the BSE or NSE. Not sure it is, so then what would drive such an industry down! Efficiency of operations and that starts with staff strength and employee unions. Brand, Landing and airport rights and aircraft on order cannot get diluted at all in spite of the apathy. These are the only strengths AI has at the moment. A smart PE or strategic investor would ask AI to shed flab (staff) and cut payroll (staff) and automatically get a huge jump in valuation especially if the union was tamed and brought on the same page for turnaround. Hmmm now that makes me think do you think the government is trying to do just that at the moment.?
Trust me no employee likes to lose his/her job as well as lifestyle they have gotten used to. Trust me a corporate is driven to expand and show returns to investors. Too many market forces pulling here and maybe it is good if there is a total showdown which will allow the airline to be set free from government shackles. That I can assure you will not be acceptable to the staff also as it means they will be parachuted into corporate reality.
Beauty of capitalism.
PS: Edit: Jet airways will only become a target if their share holding drops below a certain level. Don't think it is close to it. SEBI however has set a mandate for listed companies to increase float to ensure that such risks come into the system to ensure efficiencies. GO air unfortunately is not listed so cannot suffer "corporate raiding", but sure the promoters can try and cash out for a tidy profit if they so desire and if the MRTPC act determines it is not illegal. On the other hand Paramount is a perfect example of him trying to create a product to sell of to corporate raiders and failing miserably in spite of his PR.
Are you part of the red parties? Just an observation as corporates seem to be a bad and evil word in your dictionary. FYI free market enterprise cannot dictate who a product will be sold to. I believe Mr Raja is in Jail for attempting just that. And setting valuation correct would mean letting go many more employees.................now lets see how that would work out.
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@Wannabe flyer
So you are comparing the valuation at the time of the sale to the value of the shares now? And what has VJM done with the assets acquired at the time? To be sure a lot of VJM's grandiose plans since 2006, which included flying A380's from BLR to SFO and Dusseldorf have since come to naught. That doesnt take away the fact that core of his strategy has been to run down the value of companies and then take them over. Shaw Wallace, Air Deccan and now Air India. So far his targets were privately owned firms: but now he has targetted the national carrier.
>> Driving a valuation down would mean Air India is listed on the BSE or NSE. Not sure it is, s
That would be true, if the govt was doing the right thing and opting for first restructuring the company debt, increasing the equity base from the 175 odd crores today and then floating the company on the bourses. However the plan floated by the minister is for a "strategic sale", and his crony is the only one in the market to buy.
>> Just an observation as corporates seem to be a bad and evil word in your dictionary.
Nice way to get personal in a debate! anyway be that as it may, nobody said anything about corporates being evil. I didnt and nor did anyone else. Except yourself.
Corporates who try to influence policy through corrupt politicians and affect hostile takeovers are a different breed altogether. The reference has always been not to Corporates but to Corporate Sharks: a different breed altogether. Crony capitalism of this sort benefits no one and destroys the industry.
The airlines taken over will end up as mere shells after their assets have been sold off and thousands of pilots and staff will end up on the streets.
So you are a VJM fan? Do you also think a Frank Lorenzo was good for the airline industry?
>> I believe Mr Raja is in Jail for attempting just that.
not really. but we shouldnt digress into telecom. This forum is for aviation and pilots.
I will repeat what i said earlier: the govt stake in the national carrier must be divested. The NavRatna route, earlier adopted for MTNL, ONGC etc has given the maximum returns and benefits both to the govt and the public. The "strategic sale" option, adopted for VSNL, has given the least. The govt should focus on restructuring the airlines debt, which was piled on to the airline to pay for those expensive aircraft that it didnt want in the first place (read the blog). Once the debt is restructured, the cashflow situation will automatically improve meaning the pilots and crew will finally get their pay on time and so on.
The routes that the airline was forced to withdraw from to make way for the private carriers must be restored. With a primary hub at Del T3 and secondary hubs in 7 other cities, within 2 years, we will see a profitable airline! Once profitability returns, the govt can offload equity in tranches upto 74% in the same way that it did with MTNL or ONGC.
Why is this not being done? Why the insistence on "strategic sale"? What gives?
The pilots are absolutely right in demanding answers to the actions of the management and indeed the govt. Their jobs and careers are at stake. They havent received their full salaries in months and are being forced to fight with their backs to the wall.
>> VM, a shrewd business man??? Buddy he sells alcohol which weathers all >> inflation and recession. With such cash flows he thinks thru his arse.
Yes I agree he thinks through his a**e as you say. And he has made other grandiose plans as wells that have come to naught. And his airline Kingfisher, is like a made-up hooker, looking bright and sexy outside but all hollow on the inside. Agree with all that.
However we cant be too concerned about him personally: the larger point here is that he has tried to influence policy through corrupt ministers: exactly the sort of thing that 4 directors of Telecom companies find themselves in jail today for. And the minister ought to be in jail for the same crime that Raja finds himself in jail for.
The pilots are being made the scapegoats here and the entire might of the indian state is being thrown at them. Are they really at fault for pointing out the corruption? or fighting to get paid for the job they do?
To be sure a lot of VJM's grandiose plans since 2006, which included flying A380's from BLR to SFO and Dusseldorf have since come to naught. That doesnt take away the fact that core of his strategy has been to run down the value of companies and then take them over. Shaw Wallace, Air Deccan and now Air India. So far his targets were privately owned firms: but now he has targetted the national carrier.>> Driving a valuation down would mean Air India is listed on the BSE or NSE. Not sure it is, s
That would be true, if the govt was doing the right thing and opting for first restructuring the company debt, increasing the equity base from the 175 odd crores today and then floating the company on the bourses. However the plan floated by the minister is for a "strategic sale", and his crony is the only one in the market to buy.
>> Just an observation as corporates seem to be a bad and evil word in your dictionary.
Nice way to get personal in a debate! anyway be that as it may, nobody said anything about corporates being evil. I didnt and nor did anyone else. Except yourself.
Corporates who try to influence policy through corrupt politicians and affect hostile takeovers are a different breed altogether. The reference has always been not to Corporates but to Corporate Sharks: a different breed altogether. Crony capitalism of this sort benefits no one and destroys the industry.
The airlines taken over will end up as mere shells after their assets have been sold off and thousands of pilots and staff will end up on the streets.
So you are a VJM fan? Do you also think a Frank Lorenzo was good for the airline industry?
>> I believe Mr Raja is in Jail for attempting just that.
not really. but we shouldnt digress into telecom. This forum is for aviation and pilots.
I will repeat what i said earlier: the govt stake in the national carrier must be divested. The NavRatna route, earlier adopted for MTNL, ONGC etc has given the maximum returns and benefits both to the govt and the public. The "strategic sale" option, adopted for VSNL, has given the least. The govt should focus on restructuring the airlines debt, which was piled on to the airline to pay for those expensive aircraft that it didnt want in the first place (read the blog). Once the debt is restructured, the cashflow situation will automatically improve meaning the pilots and crew will finally get their pay on time and so on.
The routes that the airline was forced to withdraw from to make way for the private carriers must be restored. With a primary hub at Del T3 and secondary hubs in 7 other cities, within 2 years, we will see a profitable airline! Once profitability returns, the govt can offload equity in tranches upto 74% in the same way that it did with MTNL or ONGC.
Why is this not being done? Why the insistence on "strategic sale"? What gives?
The pilots are absolutely right in demanding answers to the actions of the management and indeed the govt. Their jobs and careers are at stake. They havent received their full salaries in months and are being forced to fight with their backs to the wall.
>> VM, a shrewd business man??? Buddy he sells alcohol which weathers all >> inflation and recession. With such cash flows he thinks thru his arse.
Yes I agree he thinks through his a**e as you say. And he has made other grandiose plans as wells that have come to naught. And his airline Kingfisher, is like a made-up hooker, looking bright and sexy outside but all hollow on the inside. Agree with all that.
However we cant be too concerned about him personally: the larger point here is that he has tried to influence policy through corrupt ministers: exactly the sort of thing that 4 directors of Telecom companies find themselves in jail today for. And the minister ought to be in jail for the same crime that Raja finds himself in jail for.
The pilots are being made the scapegoats here and the entire might of the indian state is being thrown at them. Are they really at fault for pointing out the corruption? or fighting to get paid for the job they do?
Last edited by royskaria; 3rd May 2011 at 19:52.
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Niira Radia Tapes
Continuing the campaign to support our pilots, explosive revelations about the Minister from the Niira Radia tapes.
Murdering the Maharaja -2 : The Niira Radia Tapes
Murdering the Maharaja -2 : The Niira Radia Tapes
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So you are comparing the valuation at the time of the sale to the value of the shares now?
Assets of Deccan? Please enlighten what was the asset base of Deccan? Don't think there was much on the books. "As a
result of those losses, our net worth as at September 30, 2005 was negative at Rs. 796.70 million which does not include an amount of Rs. 1,435.30 million (in the form of fullyJ convertible debentures and debenture application money)."
The above is from their IPO application. Their assets (aircraft) were worth Rs 2223 million and their loans against these were Rs 2175 million. No airport hangers, special landing rights etc. The only thing of use was that he was reaching the 5 year mark to fly international. Something which KF desperately wanted. IF VJ was such a buddy of PP I guess it would have been easier for him to change the rule then to buy this white elephant of an airline.
You are correct there this is not a stock market forum but an aviation forum. Priority lies in seeing how best AI can be de nationalized and then sold off to the best and most competent bidder with protection from industrial action if a layoff plan is announced.
Keeping conspiracy theories apart the writing is on the wall. Indigo and Spice have a decent domestic model. This model is yet to be tested in the International routes. Their crew seem to be satisfied and busy.
Jet seems to be making money cashing in on the international routes they have with some revenue from local. When the crew were not busy they got into trouble not anymore
AI is in decline and at the bottom of the barrel, government involvement apart it will need a dramatic change including mass layoffs.
KF is a flying elephant that is weighed up by all the hot air in VM belly and supported by all the booze he is selling.
Last edited by Wannabe Flyer; 5th May 2011 at 09:29.
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http://www.nytimes.com/2011/05/26/bu...6airindia.html
Good article and basically cut and dry. Time to stop wasting taxpayer money, let it die an economic death and allow others to get healthy. There are no innocents in this
Amen
Good article and basically cut and dry. Time to stop wasting taxpayer money, let it die an economic death and allow others to get healthy. There are no innocents in this
Amen
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latest maharaja news.
Is it true the maharaja hasnot paid anyof its staff last two months? many pilots have resigned? what is future of maharaja? is indian government also not aware of the value of experienced and and qualified pilots leaving the company because they are only 12th pass, unlike the minister! sad story for Air India 
Join Date: Nov 2011
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mate this year the pilots were just being paid their basic salary.which is 14k P/m.REST ALL IS FLYING ALLOWANCE.and in the last 3 months the f/o's haven't even got that.don't know about the captains
