Airliners-India.com

Jeh · Posted: Tue Dec 11, 2012 5:08 pm Post subject:

Common sense prevails in Abu Dhabi, by the looks of it Smile

Kingfisher denies report of stake sale to Etihad

(Reuters) - MUMBAI | Tue Dec 11, 2012 4:49pm IST

India's debt-laden Kingfisher Airlines(KING.NS) has denied a newspaper report that it had reached an agreement on selling a 48 percent stake to Etihad Airways.

Kingfisher is in discussion with various investors, including Etihad, for equity investments in the company, but matters are merely at negotiation stages, it said in a statement to the stock exchange.

India changed its Foreign Direct Investment (FDI) policy in September to allow foreign carriers to buy stakes of up to 49 percent in domestic airlines, a move seen as a potential boon for its struggling domestic aviation sector.

747-237 · Posted: Tue Dec 11, 2012 5:30 pm Post subject:

747-237 · Posted: Tue Dec 11, 2012 5:37 pm Post subject:

Kingfisher's response to the service tax dept.

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ameya · Posted: Tue Dec 11, 2012 6:25 pm Post subject:

This KF turbo leasing is what a dummy company ?

ameya · Posted: Tue Dec 11, 2012 6:26 pm Post subject:

Eshh.. and they still have the Skytrax 5 star rating on that letter head !

Nimish · Posted: Tue Dec 11, 2012 7:02 pm Post subject:

Man - don't pay tax and then threaten the tax man!
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iah87 · Member Joined: 17 Apr 2007 Posts: 2567

Ok Kingfisher, why dont you sue the Income Tax department and see what happens.

And I cant believe that the Cheif Financial Officer is so delusional that they do this.

Jeh · Posted: Tue Dec 11, 2012 7:58 pm Post subject:

bob · Member Joined: 22 Jul 2007 Posts: 173 Location: bom

Law of land does not permit to attach lease attach . India is also signed cap town treaty on lease equipment ..It is just pressur tactics . Tax department can not support thier stand and court of law just wait and see
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Mig

ameya · Posted: Wed Dec 12, 2012 10:07 am Post subject:

1. VJM got a missed call from an abu dhabi no and spread the news that EY is interested
2. EY is really smart to talk to two people and explore opportunities

Think which every way, I think EY will perfectly fit the Indian scenario - they are confused even before entering the market !

Nimish · Posted: Wed Dec 12, 2012 2:50 pm Post subject:

jasepl · Member Joined: 26 Jul 2008 Posts: 4257 Location: bund-bay

OMG wow. And here I thought Etti had at least a little bit of sense.

I'm more crap at maths than most, but even I know that 48% of zero is still zero.

So why on earth do they want to pay thousands of crores for that? Looks even more bizarre seeing how cheaply Delta just got the Virgin.
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HAWK21M · Posted: Wed Dec 12, 2012 4:25 pm Post subject:

If this 48-49% stake in KF by Etihad is true......I wonder what is the logioc of Etihad to do so......
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d3vski · Posted: Wed Dec 12, 2012 4:30 pm Post subject:

desiguy2447 · Member Joined: 23 Feb 2007 Posts: 37

The talks with Etihad are confirmed!

The link from BBC has the confirmation.

http://www.bbc.co.uk/news/business-20690371

747-237 · Posted: Wed Dec 12, 2012 6:48 pm Post subject:

Jeh · Posted: Wed Dec 12, 2012 6:56 pm Post subject:

me111993 · Member Joined: 04 Sep 2009 Posts: 3225 Location: MAA/AMD

48% in IT valued at $340 million 49% in VS valued at $360 million Laughing

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Jeh · Posted: Wed Dec 12, 2012 7:05 pm Post subject:

abhijith16 · Posted: Wed Dec 12, 2012 7:44 pm Post subject:

luvleen · Member Joined: 02 Jul 2012 Posts: 179 Location: Bombay

Just a thought.. Maybe EY is using these 'talks' with IT as a way to drive a hard bargain with 9W.. We all know that there were differences in valuation (which ultimately got sorted out).. Maybe EY is trying to get 9W to sweeten the deal by holding 'talks' with IT..

aeroblogger · Posted: Thu Dec 13, 2012 3:03 am Post subject:

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

Spiderguy252 · Posted: Thu Dec 13, 2012 12:59 pm Post subject:

luvleen · Member Joined: 02 Jul 2012 Posts: 179 Location: Bombay

Spiderguy252 · Posted: Fri Dec 14, 2012 2:54 am Post subject:

Jeh · Posted: Fri Dec 14, 2012 3:01 am Post subject:

nadarji · Member Joined: 11 Jan 2007 Posts: 305

If the aim is to gain entry into the Indian market, wouldnt GoAir be perfect? Add to its fleet, its completed 5 years, and small enough to change it in any way..

Spiderguy252 · Posted: Fri Dec 14, 2012 4:56 am Post subject:

747-237 · Posted: Fri Dec 14, 2012 6:26 am Post subject:

Germany-based DVB Bank has threatened to withdraw from the Indian aircraft finance market. The bank says DGCA’s failure to de-register two of its aircraft operated by Kingfisher Airline has prompted such a move. The bank, after termination of lease agreement, has also re-possessed two aircraft in Turkey operated by Kingfisher.

On November 29, the bank wrote to the civil aviation ministry and stated delay in de-registrations is ‘causing increasing damage’ and ‘further wait is not possible’.

In a letter the bank said, “We cannot afford to wait much longer without visible progress in this matter and will have to seek the help and protection of the Indian legal system vis-a-vis the DGCA to do their duty and deregister our aircraft. We also consider to withdraw from the Indian aircraft finance market.”

http://www.indianexpress.com/news/dvb-bank-threatens-to-quit-indian-aircraft-finance-market/1045173/
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Jeh · Posted: Fri Dec 14, 2012 9:22 am Post subject:

HAWK21M · Posted: Mon Dec 17, 2012 12:11 pm Post subject:

Tommorrow is the 18th.....lets see if there is a public statement....
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747-237 · Posted: Mon Dec 17, 2012 10:30 pm Post subject:

KFA to fly again, in limited way

http://www.hindustantimes.com/News-Feed/SectorsAviation/KFA-to-fly-again-in-limited-way/Article1-974150.aspx

Kingfisher Airlines eyes phased restart

http://twocircles.net/2012dec17/kingfisher_airlines_eyes_phased_restart.html
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747-237 · Posted: Tue Dec 18, 2012 4:14 pm Post subject:

Kingfisher Airlines shares went up following reports that its promoters are going to offer Rs 425 crore in the carrier. Kingfisher is likely to resume operations with 21 aircrafts. However, it has yet to submit its survival plan to promoters.

http://www.pardaphash.com/news/kingfisher-airlines-may-resume-flights-shares-move-up/701278.html
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747-237 · Posted: Tue Dec 18, 2012 4:22 pm Post subject:

Even as the hour-and-a-half long meeting was on, top officials from Etihad Airways were at the Mumbai airport taking a look at Kingfisher Aircrafts parked there. The team had on Sunday visited Bangalore and had been shown around the airline’s grounded fleet.

http://www.mumbaimirror.com/article/2/201212182012121803494442546f15d76/Good-time-guy-promises-partial-restart-of-KFA.html?pageno=2
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Jeh · Posted: Tue Dec 18, 2012 6:49 pm Post subject:

About a month's salary for 300 of his employees.

http://profit.ndtv.com/news/nation/article-vijay-mallya-donates-3-kg-gold-at-tirumala-314900?pfrom=home-otherstories

Vijay Mallya donates 3 kg gold at Tirumala

Vijay Mallya keeps his word. His employees at Kingfisher may not agree. But today, on his 57th birthday, Mr Mallya went personally to Tirumala to fulfill a promise he had made earlier to the Lord of the Seven Hills that he would pay to gold plate what is called the 'bangaru vakili', or the doorstep to the sanctum sanctorum of the world's richest pilgrimage centre.

Mr Mallya went with 3 kg of gold and handed it over to Tirumala Tirupati Devasthanam (TTD) officials.

Deputy executive officer Chinangari Ramana has confirmed that a receipt was also issued to Mr Mallya for the donation.

This is not the first time that the promoter of the United Breweries group is donating to the temple. He has in the past donated up to 8 kg for gold plating parts of the temple.

Mr Mallya tweeted today: "I am overwhelmed n humbled by ur birthday greetings n good wishes. Thank u from d bottom of my heart. Am in Tirupati. May Balaji bless us all."

jasepl · Member Joined: 26 Jul 2008 Posts: 4257 Location: bund-bay

iah87 · Member Joined: 17 Apr 2007 Posts: 2567

Jaysit · Member Joined: 19 Dec 2006 Posts: 4346

A bankrupt corporation donates to a rich, greedy corporation.

That pretty much sums it up.

Jeh · Posted: Wed Dec 19, 2012 7:24 am Post subject: