Bid Adieu to Kingfisher
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Many keen to invest in Kingfisher: Mallya - Rediff.com Business
Why doesn't that TOSSER invest in it, instead of Jet-setting around touting himself as "the Richard Branson of India"...
Why doesn't that TOSSER invest in it, instead of Jet-setting around touting himself as "the Richard Branson of India"...
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IB57
Right on ironB he should give up one of his 5billion(according to "the times of India"), he may have to do this anyway, because i understand that India does not have the bankrupcy option.
Pride is a big stumbling block here especially as he gave the airline to his son.
Pride is a big stumbling block here especially as he gave the airline to his son.
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Why not shut down !?
Well KF has started paying of march salaries for the bottom half. 
Wonder why is he not shutting down the airline instead as it is he has come down to a very minimum of just 11 aircrafts(four 320's two 321's & five ATR's) remaining out of his original fleet of 64 !?
Wonder why is he not shutting down the airline instead as it is he has come down to a very minimum of just 11 aircrafts(four 320's two 321's & five ATR's) remaining out of his original fleet of 64 !?
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Incredible India
when he aquired Deccan its was more like 90 aircraft total, seems impossible that after racking up 1.6 billion USD, he feels he can pay it back with only 11??
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kf
I dont thnk the idea here is to make any profits at all. If he does infact ever clears the debts (which i feel they may not as it would be a great way to channel profits from other companies/avoid taxes) they may still run it in a way that it woud just about break even.
Cheers
CG
Cheers
CG
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@airjet
Why do you all have to use the phrase 'Incredible India' so sardonically.If you need to be critical and if you are from florida, then you should find it more incredible that the people truly responssible for the subprime crisis are still free.Havent you heard what Standard Chartered has been upto.Don't you find that incredible.
The dollar transactions originated and terminated in European banks in the UK and the Middle East, and were cleared through its New York branch, the complaint said.
BBC News - Q&A: Standard Chartered Iran allegations
And what about the billions that are being speculated that the Euro will fail.Don't you find that incredible.
Stop giving bull**** to Indians.This company was a misadventure and it has failed like any other company in any other part of the world would, if it had a frivolous buisiness plan.This has nothing to do with India and neither is it incredible.
Incredible world I say.
Why do you all have to use the phrase 'Incredible India' so sardonically.If you need to be critical and if you are from florida, then you should find it more incredible that the people truly responssible for the subprime crisis are still free.Havent you heard what Standard Chartered has been upto.Don't you find that incredible.
The dollar transactions originated and terminated in European banks in the UK and the Middle East, and were cleared through its New York branch, the complaint said.
BBC News - Q&A: Standard Chartered Iran allegations
And what about the billions that are being speculated that the Euro will fail.Don't you find that incredible.
Stop giving bull**** to Indians.This company was a misadventure and it has failed like any other company in any other part of the world would, if it had a frivolous buisiness plan.This has nothing to do with India and neither is it incredible.
Incredible world I say.
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oh well
I used the "incredible India" phrase because i happen to think India is "incredible". and i enjoyed all of my 4 years there.
which does not mean that "stupid pride" (saving face) and corruption is not rampant and dragging the country down.
which does not mean that "stupid pride" (saving face) and corruption is not rampant and dragging the country down.
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There is no 'stupid pride' airjet.On the contrary every Indian is acutely aware and frustrated with the level of corruption.But we are aware of some other things as well.
We are aware that for 50 years from 1900 to 1950 we grew at an impressive rate of 0% under the great British rule and inherited one of the poorest economies of the world after Independence.(Also one of the most poignantly divided)
We are also aware that 65 years later the same West is almost begging us to open our economy (Not that its not in our interest to do so) and is often ready to transfer critical technology to India.Compare this to 1974 when it is alleged that Kissinger threatened to destroy us after we did our first nuclear test (interestingly code-named Smiling Buddha)and you should come to respect the progress we have made.
As for Kingfisher, Bid adieu to Kingfisher.
We are aware that for 50 years from 1900 to 1950 we grew at an impressive rate of 0% under the great British rule and inherited one of the poorest economies of the world after Independence.(Also one of the most poignantly divided)
We are also aware that 65 years later the same West is almost begging us to open our economy (Not that its not in our interest to do so) and is often ready to transfer critical technology to India.Compare this to 1974 when it is alleged that Kissinger threatened to destroy us after we did our first nuclear test (interestingly code-named Smiling Buddha)and you should come to respect the progress we have made.
As for Kingfisher, Bid adieu to Kingfisher.
Last edited by Capt Apache; 20th Aug 2012 at 10:57.
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Kingfisher Airlines cancelled over 25 flights this weekend as pilots held a flash agitation over the non-payment of salaries. To put that number into perspective, Kingfisher only operates about 30 flights each day.
Pilots had been assured that one-month’s pay would be provided on Friday. However, the payment (unsurprisingly) never arrived. Flights from Mumbai were most affected by the agitation.
This strike comes shortly after Kingfisher revealed its atrocious Q1 financial performance. Its net margin was less than -300%! Obviously not a sustainable situation..
On the bright side, with pilots planning to continue this strike, we can look forward to another letter from Vijay Mallya
Blog courtesy: Aeroblogger
Pilots had been assured that one-month’s pay would be provided on Friday. However, the payment (unsurprisingly) never arrived. Flights from Mumbai were most affected by the agitation.
This strike comes shortly after Kingfisher revealed its atrocious Q1 financial performance. Its net margin was less than -300%! Obviously not a sustainable situation..
On the bright side, with pilots planning to continue this strike, we can look forward to another letter from Vijay Mallya
Blog courtesy: Aeroblogger
Last edited by blackbirdsr72; 27th Aug 2012 at 08:33.
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NEW DELHI: The head of Kingfisher Airline's pilot training flew a woman in the cockpit on a Delhi-Mumbai flight and when the cabin crew protested, told them to stay away during the journey. The crew of the flight IT 304 of August 19 have now lodged a complaint with the management, saying the pilot flouted DGCA rules by flying an unauthorized person in the cockpit.
"We will investigate the matter," Kingfisher spokesman Prakash Mirpuri said. The Directorate General of Civil Aviation too has ordered a probe and warned of strict action if the pilot is found guilty.
This incident comes at a time when the DGCA is conducting a safety audit of Kingfisher and Air India Express — airlines identified as being in severe financial distress by a DGCA audit last December.
The Kingfisher cabin crew did not press the case against the pilot on August 19 itself as the commander is one of the seniormost pilots of the airline.
In fact, the pilot, GM(training), was among the handful who also fly promoter Vijay Mallya's personal Airbus corporate jet.
Employees have always steered clear of this select group, but with salaries pending since March, the fear is diminishing. As soon as the flight landed in Mumbai, the cabin crew lodged a complaint.
Sources point out that the Kingfisher commander broke many rules while taking the woman into the cockpit, no matter that a co-pilot was present.
"Taking a flyer in the cockpit is itself not allowed. But in this case, asking the cabin crew not to come to the cockpit during the flight is another serious breach," said a source.
"DGCA rules stipulate that when one of the pilots leaves the cockpit for any reason, a crew member must remain there till the former returns. The reason is that since 9/11, the cockpit doors are locked and if for some reason the only pilot in the cockpit gets incapacitated, there must be someone else to open the door for the other pilot."
Any info guys? I guess the man in question is VR.
"We will investigate the matter," Kingfisher spokesman Prakash Mirpuri said. The Directorate General of Civil Aviation too has ordered a probe and warned of strict action if the pilot is found guilty.
This incident comes at a time when the DGCA is conducting a safety audit of Kingfisher and Air India Express — airlines identified as being in severe financial distress by a DGCA audit last December.
The Kingfisher cabin crew did not press the case against the pilot on August 19 itself as the commander is one of the seniormost pilots of the airline.
In fact, the pilot, GM(training), was among the handful who also fly promoter Vijay Mallya's personal Airbus corporate jet.
Employees have always steered clear of this select group, but with salaries pending since March, the fear is diminishing. As soon as the flight landed in Mumbai, the cabin crew lodged a complaint.
Sources point out that the Kingfisher commander broke many rules while taking the woman into the cockpit, no matter that a co-pilot was present.
"Taking a flyer in the cockpit is itself not allowed. But in this case, asking the cabin crew not to come to the cockpit during the flight is another serious breach," said a source.
"DGCA rules stipulate that when one of the pilots leaves the cockpit for any reason, a crew member must remain there till the former returns. The reason is that since 9/11, the cockpit doors are locked and if for some reason the only pilot in the cockpit gets incapacitated, there must be someone else to open the door for the other pilot."
Any info guys? I guess the man in question is VR.
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Vijay Mallya, 'King of Good Times' offers a gold-plated door to temple, vows to offer
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Kingfisher Airlines faces operational shutdown, says CAPA
New Delhi: Kinghfisher Airlines may have to shut down operations if $600 million cash is not infused in the next two months, the Centre for Asia Pacific Aviation (CAPA) said on Friday.
"Kingfisher is able to continue as a result of daily infusions of funding by the promoter. However, with mounting losses the situation is unsustainable. In Q1 (first quarter, 2012-13) the promoters invested $133.9 million, but this barely allows the airline to survive," CAPA said in a report on the Indian airline industry's performance in the first quarter of the current fiscal.
"A viable turnaround is unrealistic without a significant re-capitalisation of the airline. Without an investment of approximately $600 million in the next 30-60 days, Kingfisher faces the prospect of an operational shutdown, possibly temporarily, to allow it to restructure and re-organise," it said.
According to the advisory company, a restructuring of the airline will require banks to take a significant hit as they have huge exposure to bad debt given to the carrier.
The airline also faces frequent labour unrest with one group or the other of employees going on flash strike demanding payment of salaries and other reimbursements.
The airline had the lowest market share in July which stood at 3.4 per cent.
The report estimated the airline to make a total loss of $220-$260 million in 2012-13. The company had reported a net loss of Rs.650.78 crore ($117 million) for the quarter ended June 30, 2012.
"The uncertainly regarding the scale of Kingfisher's operations means that any outlook for the carrier's financial is very difficult to estimate, and its full year loss could be higher than expected," the report said.
On Air India, CAPA said the airline would be able to cut losses for 2012-13 to around $one billion on improved domestic operations. It had earlier estimated the loss to be of $1.3 billion.
AI's domestic revenue increased 6 per cent in the quarter under review from the corresponding quarter of last fiscal. It also achieved third highest domestic market share in August at 18.2 per cent.
"The national carrier needs to take advantage of the current domestic market conditions to focus on its restructuring by further reducing its cost base, improving productivity and solving its outstanding HR issues," the report said.
CAPA said the four private players - SpiceJet, IndiGo, GoAir and Jet Airways - are on track to achieve $200 million profit for 2012-13.
"In the first quarter ended June 30, these four private carriers are estimated to have achieved a profit of approximately $40 million," CAPA added.
Kingfisher Airlines faces operational shutdown, says CAPA - Business News - IBNLive
New Delhi: Kinghfisher Airlines may have to shut down operations if $600 million cash is not infused in the next two months, the Centre for Asia Pacific Aviation (CAPA) said on Friday.
"Kingfisher is able to continue as a result of daily infusions of funding by the promoter. However, with mounting losses the situation is unsustainable. In Q1 (first quarter, 2012-13) the promoters invested $133.9 million, but this barely allows the airline to survive," CAPA said in a report on the Indian airline industry's performance in the first quarter of the current fiscal.
"A viable turnaround is unrealistic without a significant re-capitalisation of the airline. Without an investment of approximately $600 million in the next 30-60 days, Kingfisher faces the prospect of an operational shutdown, possibly temporarily, to allow it to restructure and re-organise," it said.
According to the advisory company, a restructuring of the airline will require banks to take a significant hit as they have huge exposure to bad debt given to the carrier.
The airline also faces frequent labour unrest with one group or the other of employees going on flash strike demanding payment of salaries and other reimbursements.
The airline had the lowest market share in July which stood at 3.4 per cent.
The report estimated the airline to make a total loss of $220-$260 million in 2012-13. The company had reported a net loss of Rs.650.78 crore ($117 million) for the quarter ended June 30, 2012.
"The uncertainly regarding the scale of Kingfisher's operations means that any outlook for the carrier's financial is very difficult to estimate, and its full year loss could be higher than expected," the report said.
On Air India, CAPA said the airline would be able to cut losses for 2012-13 to around $one billion on improved domestic operations. It had earlier estimated the loss to be of $1.3 billion.
AI's domestic revenue increased 6 per cent in the quarter under review from the corresponding quarter of last fiscal. It also achieved third highest domestic market share in August at 18.2 per cent.
"The national carrier needs to take advantage of the current domestic market conditions to focus on its restructuring by further reducing its cost base, improving productivity and solving its outstanding HR issues," the report said.
CAPA said the four private players - SpiceJet, IndiGo, GoAir and Jet Airways - are on track to achieve $200 million profit for 2012-13.
"In the first quarter ended June 30, these four private carriers are estimated to have achieved a profit of approximately $40 million," CAPA added.
Kingfisher Airlines faces operational shutdown, says CAPA - Business News - IBNLive
stupid pride
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Why are Indians often so sensitive to criticism, even when it often is not criticism? We like them, we like India, but see the country for what it is....a friendly but muddled mess, corrupt and inefficient as many other places. And very smelly. 
)
Captain Apache, you seem to be over-reacting here. Chill, man....
) Captain Apache, you seem to be over-reacting here. Chill, man....
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I don't understand why at least a decent number of FOs/skippers (with time) don't leave India. The opportunities appear to be there.
The paperwork & utter BS to attain a damn PPL is shocking, the way I see it, anywhere is better than than India - except maybe US regionals but that's a whole new topic.
The paperwork & utter BS to attain a damn PPL is shocking, the way I see it, anywhere is better than than India - except maybe US regionals but that's a whole new topic.