Airliners-India.com

abhigopal · Member Joined: 01 May 2008 Posts: 172

The Funniest thing just happened.

A colleague just got a mail today on his birthday from King Club stating that they have credited bonus miles to his account

HAHHAHAHAHAHAHAHHAHAHAHAHAHAHAHAHHAHAHAHA

Sandy29 · Posted: Thu Nov 22, 2012 2:27 pm Post subject:

Jeh · Posted: Sun Nov 25, 2012 7:06 pm Post subject:

Our favourite huckster Mallya has just announced a Rs. 450-crore cash infusion! .... into Force India Rolling Eyes

http://www.livemint.com/Companies/9nz1ORuEPdqnYFziRtmt3N/Banks-plan-hard-line-on-Vijay-Mallya.html

Banks plan hard line on Vijay Mallya
May consider invoking personal guarantees unless he offers a firm commitment to infuse funds

Mumbai: Creditors of debt-laden Kingfisher Airlines Ltd are preparing to take a hard line towards its founder Vijay Mallya and may consider invoking personal guarantees the liquor tycoon gave in return for bank loans unless he offers a firm commitment to infuse fresh funds into the grounded airline, people familiar with the situation said.

Banks have toughened their stance after Mallya said this week that he would inject £50 million (around Rs.440 crore) into his Formula One racing team, Sahara Force India. Mallya’s announcement followed an agreement by the world’s largest distiller Diageo Plc, earlier this month to buy a majority stake in his United Spirits Ltd for Rs.11,166 crore.

“Now that Mallya has money, he should pay us first instead of investing in his other interests,” said a senior banker, who did not want to be named.
The banker said various creditors are in touch with State Bank of India (SBI), which heads the consortium of lenders to Kingfisher Airlines, and their boards are discussing measures that can be taken to recover their loans. The consortium of lenders will meet before 30 November.

Invocation of personal guarantees is typically the last resort for creditors. According to the latest annual report of Kingfisher Airlines, guarantees offered on behalf of the airline by promoter group companies for loans and other liabilities are pegged at Rs.8,925.86 crore. The value of the personal guarantees given by Mallya isn’t known.

A senior executive at Mallya’s UB Group said he was not aware of any move by bankers to encash guarantees offered by the promoters.
“We are clear about our strategy. We will not be dumping Kingfisher Airlines after investing (a) lot of money,” this executive said. “We are in talks with strategic investors, including private equity players. The promoters are willing to infuse funds. But I cannot divulge details at this point of time.” The executive requested anonymity.

Prakash Mirpuri, spokesperson at Kingfisher Airlines, said: “We are in discussion with the bankers’ consortium for recapitalization and restart of operations and there is therefore no question of jumping the gun and invoking any guarantees.”

Mallya’s proposed investment in Sahara Force India has not gone down well with most of the creditors of Kingfisher Airlines.

“In our last consortium meeting we decided to act tough to recover our dues, but now that the promoter has got money, we would like to see some firm commitment from his side,” said another senior banker, who also did not want to be named because of the sensitive nature of the issue.

On 26 October, Mint reported citing Kapil Kaul, chief executive officer (South Asia) at Capa, that Kingfisher Airlines needed at least $1 billion to fully fund a turnaround business plan. The immediate requirement for actively re-launching the airline—as opposed to operating a skeleton fleet—has also increased from $600 million earlier to closer to $700 million, Capa said.

In a conference call after the deal with Diageo, Mallya said it would be “unfair for me to comment now what this deal means to Kingfisher”.
“I am doing what is best for my businesses,” he said. “I believe that I have done what is best for my spirits business. I will be doing what is best for Kingfisher Airlines separately, and I would be doing (it) fairly and squarely.”

stealthpilot · Member Joined: 19 Dec 2006 Posts: 2325 Location: BLR, DXB

I created a new topic under Site Related. It has to do with the previous posts ..... and the circus of exchanges that took place.

http://airlinersindia.s4.bizhat.com/viewtopic.php?t=12804

Please read and comment. I would post it here but it could be considered off topic Wink

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iah87 · Member Joined: 17 Apr 2007 Posts: 2567

http://in.news.yahoo.com/video/despite-kfa-loss-mallya-still-135000759.html

Video link to a news story that VJM's Force 1 is attracting investor interest. Also the banks see KFA as a different company and not directly linked with rest of VJMs assets.

Jeh · Posted: Thu Nov 29, 2012 2:58 am Post subject:

The results of TripAdvisor's new survey of idiot travellers. The respondents, all with an IQ slightly lower than their body temperature in celsius, still have 'goodwill' for Kingfisher, are 'optimistic about its revival' and think AI is the 'most unsafe' domestic airline in the country, beating even Kingfisher. Quite why they harvest the opinions on safety of people who couldn't tell a tailfin from a check-in desk, I don't know, but how does AI acquire such a grossly unfair reputation?! From the experience of others on the forum - is this the prevalent view of the travelling public?

KF Airlines still enjoys goodwill among Indian travellers: TripAdvisor

Kingfisher Airlines still enjoys goodwill among Indian travellers who are optimistic about its revival sometime in the future, according to a recent survey conducted by tripadvisor.in, a global travel site.

As many as 74% of the respondents to the survey, conducted across 2,800 respondents a fortnight back, were optimistic about the revival of Kingfisher airline, TripAdvisor India country manager, Nikhil Ganju, told media persons here on Wednesday.

This year, as per the survey, IndiGo and Jet Airways were close contenders for the title of "Favourite Domestic Airline", displacing two time winner Kingfisher Airlines, with IndiGo taking the lead by a small margin.

The survey, however, stated that Air India closely followed by Kingfisher was perceived as the most unsafe airline by Indian travellers while Jet Airways was voted as the safest domestic airline closely followed by IndiGo.

With regard to international travel, Emirates leads for the third year in a row with 26% of the respondents voting it as the "Best International Airline" followed by Singapore Airline ( 15%) and Lufthansa (11%).

TKMCE · Member Joined: 27 Feb 2007 Posts: 957

What is the issue regarding "goodwill" for Kingfisher??? If anybody raised the bar in terms of service standards in India it was Kingfisher. All announcements referred to their "guests" from word go. It made you feel good!!! Same was later copied by a few other airlines. So if the finding was that many people still have a lot of goodwill towards Kingfisher, then it is only correct. Even when KF staff were not paid salaries for months , most crew or ground staff never let it affect their work.

Please give some credit whre it is due instead of blindly criticising. It is very easy to be an arm chair critic, especially when you have not experienced what the employees nd their families went thrfough and many are still undergoing. This applies for both Air india and Kingfisher.

As for safety if Air India and KF are rated low, then I guess Trip Advisor unlike what you think choose their sruvey sample properly. Any sane person will be concerned if the guys who are flying you are not paid for months, and uncertain about what the future brings. In additon the media quite properly in my opinion was highlighting this fact at every opportunity.

747-237 · Posted: Mon Dec 03, 2012 5:56 am Post subject:

http://timesofindia.indiatimes.com/business/india-business/Kingfisher-Airlines-set-to-lose-airport-office-for-defaulting-on-rent/articleshow/17458003.cms

Kingfisher Airlines set to lose airport office for defaulting on rent

Dec 3, 2012

Kingfisher Airlines, which used to operate out of domestic Terminal 1A of the city airport was served an eviction notice by Mumbai International Airport Pvt Ltd (MIAL) a week ago. The airline, which owes Rs 22 crore to the airport operator, has been rented out offices and check-in desks at the said terminal. The development casts doubts on Kingfisher's ability to resume operations as the airport operator has already started the process of getting another airline to move its operations to Terminal 1A.

While an MIAL source said that Kingfisher did not respond to their eviction notice, an official from the airline, while confirming that they did get a notice from MIAL, added that they had replied to the said notice. "We do not need all that space anyway since we have scaled down our operations. So, we were in the process of voluntarily handing over some of the rented space back to MIAL,'' the official added. Kingfisher and the MIAL spokesperson refused to comment on the development.

Kingfisher, which operated close to 400 domestic and international flights daily from various airports in India till last year, started scaling down its flight operations from November 2011. "By the end of September 2012, the airline barely had a total of 16 arrivals and departures a day out of Mumbai airport's Terminal 1A,'' said an airport source. "While plans are afoot to move Go Air from Terminal 1B to 1A, we are also looking at the process involved in reclaiming much of the space rented out to Kingfisher as the asset has not produced any income for quite a while, because of the airline's inability to pay the rent,'' he added. "A few days ago MIAL and Go Air officials came to have a look at the Kingfisher offices located in Terminal 1A,'' said a Kingfisher source. "A meeting between different agencies was also held a few days ago at the airport to apprise them about the development and to discuss how the process of moving the low-cost airline into Terminal 1A could be carried out,'' said the airport source.

The move holds significance as Mumbai and Bangalore were the two airports that bore the load of a majority of Kingfisher's flight operations. "It is not every day that airlines move operations in and out of terminals. So, MIAL's eviction notice to Kingfisher's and their subsequent proposal to Go Air to move into Terminal 1A speaks volumes about what the future envisages for the beleaguered carrier,'' said an aviation source.

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747-237 · Posted: Tue Dec 04, 2012 4:24 pm Post subject:

Kingfisher Airlines shutdown will cause a lot of collateral damage: Ajit Singh

http://profit.ndtv.com/news/corporates/article-kingfisher-airlines-shutdown-will-cause-a-lot-of-collateral-damage-ajit-singh-314222
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jasepl · Member Joined: 26 Jul 2008 Posts: 4257 Location: bund-bay

Really?

It's already dead. And the world moved on with barely a hiccup.
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ameya · Posted: Tue Dec 04, 2012 4:39 pm Post subject:

iah87 · Member Joined: 17 Apr 2007 Posts: 2567

I think the article refers to collateral damage due to the dues owed by KF to airports, banks, oil companies. These companies now have to write off the debt and have to show losses or smaller profits.

The impact on the passengers is marginal at best. Althought the J class domestic fares have risen as Jet cut back on mainline Jet flights, leaving only AI as the only other airline to offer J class.

Spiderguy252 · Posted: Tue Dec 04, 2012 7:48 pm Post subject:

sumantra · Member Joined: 28 Oct 2007 Posts: 4685 Location: New Delhi

HAWK21M · Posted: Wed Dec 05, 2012 5:31 pm Post subject:

No news on KF these days.....
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747-237 · Posted: Wed Dec 05, 2012 7:48 pm Post subject:

We are trying to help revive Kingfisher Airlines, SBI says

Kingfisher is a good company with a high brand value and lenders are trying to do everything to see that an amicable solution is found, SBI managing director and chief financial officer Diwakar Gupta told reporters on the sidelines of a PwC event.

http://timesofindia.indiatimes.com/business/india-business/We-are-trying-to-help-revive-Kingfisher-Airlines-SBI-says/articleshow/17492230.cms
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Jeh · Posted: Fri Dec 07, 2012 5:21 am Post subject:

Finally final?

Kingfisher airlines lenders to take final call on December 17

MUMBAI: Lenders to Kingfisher Airlines will meet promoter Vijay Mallya on December 17 to decide the way forward for the grounded airline which has defaulted on Rs 7,000-crore debt.

The meeting may seal the fate of the struggling company as the matter had dragged on for more than a year without any concrete plan for revival, said two people familiar with the matter. "The lenders have decided to take a final call on the fate of the airline," said a banker who did not want to be identified.

The meeting is crucial for Kingfisher Airlines whose flying licence has been suspended since October 20 due to safety reasons and has been seeking financial support from lenders for over a year to revive the company.

Mallya has been struggling to revive the airline that has not turned in a profit since its inception. The delay in the government approving a 49% foreign direct investment in aviation also contributed to the financial woes of the company. Now that the government has given its nod to FDI, the airline is looking for investors, but analysts believe it may be elusive.

Incidentally, even as banks have lent over Rs 7,000 crore to the airline, the collateral is not enough to recover their dues. Mallya has pledged the Kingfisher House located in Mumbai and a Goa villa with the banks.

The combined value of both the properties will not fetch the lenders more than Rs 300 crore. Mallya's decision to sell a quarter of group company United Spirits to Diageo has raised hopes of bankers that he may be able to bring in equity into the aviation company.

However, his public comments have dimmed hopes of him investing substantial funds into the airline. The liquor baron had said that airlines and liquor businesses are two different entities and that they would be dealt with separately.

"There will be no cost contamination. Kingfisher will chalk out its recapitalisation plan separately and independently of this transaction," Mallya had said. The company is yet to pay past salaries to its employees.

sri_bom · Member Joined: 22 Dec 2006 Posts: 2365 Location: Singapore

Kingfisher Airlines in talks with Etihad Airways: report

7-Dec-2012 9:32 AM

Kingfisher Airlines is reportedly in talks with Etihad Airways regarding a
stake sale, with reports Kingfisher Airlines CEO Sanjay Aggarwal visited Etihad last week (The Hindu, 06-Dec-2012).

Source: CAPA.

Jeh · Posted: Fri Dec 07, 2012 2:49 pm Post subject:

The_Goat · Posted: Fri Dec 07, 2012 3:10 pm Post subject:

ameya · Posted: Fri Dec 07, 2012 4:16 pm Post subject:

The_Goat · Posted: Fri Dec 07, 2012 4:35 pm Post subject:

Spiderguy252 · Posted: Fri Dec 07, 2012 5:54 pm Post subject:

Looks like the copy cat gene hasn't faded yet.
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Yeah.

Nimish · Posted: Fri Dec 07, 2012 6:49 pm Post subject:

747-237 · Posted: Sat Dec 08, 2012 7:01 am Post subject:

Mallya would try to announce the name of an investor before the 31 December deadline for the expiry of the suspended licence.

http://www.livemint.com/Companies/1tIJcZaK8elsLWeMcDDfiI/Mallya-to-DGCA-revival-plan-before-monthend.html
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ameya · Posted: Sat Dec 08, 2012 2:36 pm Post subject:

From what I know its going to be on 18th. I guess its his birthday or something

HAWK21M · Posted: Mon Dec 10, 2012 5:20 pm Post subject:

At VABB Currently lying idle,dusty and in storage conditions are Two A321s, Three A320s and one private small plane [not had a close view] with kf livery.

I believe 2600 of the earlier 7000 employees are still with the airline.

31st December will be the day.
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ameya · Posted: Mon Dec 10, 2012 5:29 pm Post subject:

HAWK21M · Posted: Mon Dec 10, 2012 5:41 pm Post subject:

747-237 · Posted: Mon Dec 10, 2012 7:50 pm Post subject:

iah87 · Member Joined: 17 Apr 2007 Posts: 2567

I dont know if KF's license has any value, but would it make sense for KF's bankers to sell that before the Dec 31st deadline, or will DGCA extend the deadline again !!!

747-237 · Posted: Tue Dec 11, 2012 7:13 am Post subject:

7 Kingfisher jets impounded
Dec 11, 2012

The grounded Kingfisher Airlines faced another blow when at least seven of its aircraft parked at Mumbai airport were impounded by the service tax department for its failure to pay around Rs200 crore as dues.

http://www.dnaindia.com/mumbai/report_7-kingfisher-jets-impounded_1775959
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747-237 · Posted: Tue Dec 11, 2012 7:20 am Post subject:

Etihad is to buy 48% stake in IT. To be made official on Dec 18.

More here:

http://www.mumbaimirror.com/article/15/2012121120121211054439485a627c6ae/Etihad-set-to-buy-48-stake-in-KF.html
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Jeh · Posted: Tue Dec 11, 2012 7:43 am Post subject:

Nimish · Posted: Tue Dec 11, 2012 12:56 pm Post subject:

^^^ Nothing's certain until it's done. We heard the same announcement about EY/9W just a week or two ago, and today it's EY/IT. God alone knows what will eventually happen, but right now it's very clear that it's quite murky Smile

.
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ameya · Posted: Tue Dec 11, 2012 1:00 pm Post subject:

NG must be wondering why wasnt he born in December... !

d3vski · Posted: Tue Dec 11, 2012 1:39 pm Post subject:

If true, then Mallya has worked a miracle.

As for Jet, they seem to have once again missed the boat and massively, this time!

They have just potentially allowed one Of the most richest sovereign wealth funds to invest in their major rival!

The_Goat · Posted: Tue Dec 11, 2012 3:19 pm Post subject:

Is EY so stupid? Really?

I know they are rich and all that, but to invest 3000 crores for 48 % in an airline that had debts worth 12000 crores, and isn't even flying ????

Could it all be a big hoax? Just another ploy by Uncle to increase his share value?
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Nimish · Posted: Tue Dec 11, 2012 4:24 pm Post subject:

^^ I suspect exactly this...
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Jeh · Posted: Tue Dec 11, 2012 5:03 pm Post subject: