Aug 8, 2012

Kingfisher down? Forget that discretionary flight




Word has it that the UB Group board, parent of Kingfisher Airlines, is expected to hold a board meet in Maurya Sheraton in Delhi this week.

This paralleled with its chief Vijay Mallya making a statement today. He said he will infuse equity in the cash strapped airline irrespective of whether a favorable government policy materializes or not. Key question : where will these funds come from? Will the subsidiary companies of UB allow more funds to be released?

Kingfisher flights indeed got canceled on Wednesday. Twenty-two flights were cancelled from Delhi while nine were cancelled from Mumbai as pilots and engineers joined hands to strike work because of not being paid for six months.

Hopefully the airline will spring back from the ashes for the sake of these unpaid employees and fence sitting passengers who simply cant afford the spiralling fares. Else, forget that discretionary flight. The good times are over.


pic : kingfisher airlines

2 comments:

  1. Your last sentence, "The good times are over" is a fitting epitaph to this once proud carrier.
    As for the infusion of funds, if press statements are to be believed, VJM clearly spelled out that he would like the banks to loosen their purse strings. Which means throwing more good money after bad & punishing the Indian tax payer for the wrong call taken by mostly our nationalized banks.

    Aviator

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  2. Hey guys he is d best person to do business on sum1 elses money and then pressurize the Govrmnt to give grants and allow FDI in the business so that he can wind up make his money and again look back 2 his daroo business ...Have seen my friends suffer and still suffering working in Kingfisher.......Stop using any UB products including Beer/Whiskey

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