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harshwcam3 · Member Joined: 18 Oct 2012 Posts: 114

What happened to that x thousand crores which the fat one got by selling a stake in UB to diageo. Did he throw a party with it or gave it to his boy wonder.

G-BYGB · Posted: Tue Aug 27, 2013 11:55 am Post subject:

747-237 · Posted: Sat Aug 31, 2013 5:02 pm Post subject:

One of the IT A320s stored at Bangalore, VT-ADV, has been ferried to Seletar, Singapore.
She was one of Air Deccan's original aircraft, and then wore Simplifly Deccan and Kingfisher Red titles.
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TKMCE · Member Joined: 27 Feb 2007 Posts: 957

Yes one of the original 180 all Y configuration a/c . 2005 vintage but delivered new then to DN. Leased from SALE (now BOC).

Spiderguy252 · Posted: Mon Sep 02, 2013 12:32 pm Post subject:

jbalonso777 · Posted: Mon Sep 02, 2013 12:40 pm Post subject:

d3vski · Posted: Mon Sep 02, 2013 2:31 pm Post subject:

The race has been canned in 2014 so that it can return in as an early season race in 2015. The indian GP is a firm favourite of the drivers although it really irks me when all the F1 world refer the track as the BuddhA circuit when it is only Buddh!!!

If it is scheduled for March 2015, I'll be over the moon as it ties in nicely with my annual trips to India.

747-237 · Posted: Mon Sep 02, 2013 7:11 pm Post subject:

http://www.livemint.com/Companies/N3d8OeqfZFPBFjk8gyqptN/Kingfisher-files-suit-for-234-mn-claim-from-aircraft-engine.html

Kingfisher files $234 mn lawsuit against US-based aircraft engine maker

Sep 02 2013

United Breweries (Holdings) Ltd, the holding company of grounded Kingfisher Airlines Ltd, has filed a lawsuit against aircraft engine maker International Aero Engines AG claiming $234 million in damages, the airline said in its 2012-13 annual report released on Monday.

In a suit filed in a civil court in Bangalore, United Breweries has said the IAE V-2500 A5 engines supplied by the US-based company to Kingfisher Airlines were “inherently defective, both in design and manufacture.”

The airline has claimed $210 million plus $24.56 million in damages, and reserved liability to claim further damages.

Kingfisher also said it is in discussions with a potential investor for a two-phased revival plan.

According to the annual report, phase 1 of the recovery (a limited restart plan) involved restarting the airline’s operations with a limited fleet of seven aircraft (five Airbus and two ATR planes), gradually increasing to 21 aircraft (10 Airbus and 11 ATRs) in 3-4 months.
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iah87 · Member Joined: 17 Apr 2007 Posts: 2566

http://timesofindia.indiatimes.com/business/india-business/Vijay-Mallya-blames-all-but-himself-for-Kingfisher-woes/articleshow/22231559.cms

VJM is blaming everyone but himself. However if the airline was successful he would taken credit. The least he can do is pay part of the salary arrears.

I know EK wants more seats to India since they have maxed out, but for them investing in Spicejet is more sensible than KF which has a ton of debts.

ameya · Posted: Tue Sep 03, 2013 10:24 am Post subject:

All these things are old.

yesterday they sent out their annual report and first few pages mention this law suit. This was filed over a year ago

News reporters are jumping on this after reading first few pages and making a news item of out it

sukritmunjal · Member Joined: 23 Jan 2013 Posts: 178 Location: FMO

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

Kingfisher Airlines in talks with one potential investor: Annual Report
News
3-Sep-2013 10:05 AM

Kingfisher Airlines chairman Vijay Mallya said the carrier was in talks with one potential investor as of 14-Aug-2013 to fund its resumption of operations (PTI/Bloomberg, 02-Sep-2013). He noted the company remains in dialogue with “several investors and believes that there is a rationale for investment for various strategic and non-strategic investors. As on the date of this report, your company is engaged in discussions with one such potential investor.” Vijay Mallya has reportedly outlined why the carrier would be a good investment target, as follows:

1. Will give any investor a foothold in one of the fastest growing aviation markets in the world, that is India;
2. Growing importance of aviation in policy making, such as opening up of Indian aviation industry to foreign airline investments;
3. New airports and other aviation infrastructure coming up;
4. Kingfisher’s promoters are willing to continue support for the airline’s revival;
5. Valuation of Kingfisher is “very attractive” at the moment;
6. Brand Kingfisher, where a recent brand valuation conducted by Grant Thornton put the brand value at USD550 million once the airline business becomes operational;
7. Scheduled Air Operator’s Permit (SOP) which can be renewed anytime within two years by capitalising the airline in line with the revival plan submitted to DGCA;
8. Kingfisher has 12 aircraft and is “confident of” acquiring additional aircraft during the ramp up;
9. Senior and mid level managers and sufficient number of pilots, engineers, dispatchers still on Kingfisher’s rolls to operate up to 20 aircraft. Additional staff can be hired as the airline business ramps up;
10. Ground handling equipment and aircraft spares to support the fleet;
11. Access to most of the premium slots besides curbside and ramp space at various airports.

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

Kingfisher Airlines seeks USD236m in damages from International Aero Engines
News
3-Sep-2013 9:45 AM
United Breweries (Holdings) Ltd filed a USD236 million lawsuit for damages to Kingfisher Airlines from International Aero Engines AG citing engine defects (PTI/Economic Times, 02-Sep-2013). The lawsuit alleged the supply of "inherently defective" V2500 A5 engines, with the suit filed in the City Civil Court at Bangalore. The suit alleges that the engines were "inherently defective, both in design and manufacture". IAE communications manager Heather Waldron said only, "IAE cannot comment on pending litigation".

HAWK21M · Posted: Tue Sep 03, 2013 11:22 pm Post subject:

How is VJM going to prove his case with IAE.
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sri_bom · Member Joined: 22 Dec 2006 Posts: 2365 Location: Singapore

Kingfisher Airlines CEO receives nearly USD591,000 salary in 2012/2013, headcount halves
News
4-Sep-2013 10:27 AM
Kingfisher Airlines, in a note of its annual report, revealed that CEO Sanjay Aggarwal was paid a remuneration of nearly INR40 million (USD590,630) for the the 2012-2013 fiscal year, which "excludes accrued leave encashment and gratuity since the same have been recognised for the company as a whole and cannot be determined at an employee level" (The Hindu Business Line/Hindustan Times/PTI, 03-Sep-2013). Mr Aggarwal is also "entitled to free use of the company car and telephone". At least five Kingfisher employees received annual packages of worth INR10 million (USD147,000) or more in 2012-13, while as many as 44 staff members obtained monthly salaries of got a monthly salary of INR500,000 (USD7350) and more, according to the latest annual report. According to the report, Kingfisher Airlines had 2851 employees, 50% less than the 5696 employees in the previous financial year. This resulted in overall employee expenses declining 48%. The airline also said that it still has enough senior and mid-level managers and a sufficient number of pilots, engineers and dispatchers to operate up to 20 aircraft.

HAWK21M · Posted: Thu Sep 05, 2013 3:28 pm Post subject:

Whats amazing is all the top brass keep getting jobs wherever they go....
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Optimus.Prime · Posted: Thu Sep 05, 2013 9:10 pm Post subject:

Jeh · Posted: Thu Sep 05, 2013 9:28 pm Post subject:

HAWK21M · Posted: Fri Sep 06, 2013 12:34 am Post subject:

TKMCE · Member Joined: 27 Feb 2007 Posts: 957

Optimus.Prime · Posted: Fri Sep 06, 2013 10:45 am Post subject:

747-237 · Posted: Tue Sep 10, 2013 8:04 pm Post subject:

One of the IT ATR-72s stored at MAA, VT-KAL, has been ferried out to Seletar, Singapore.
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747-237 · Posted: Thu Sep 12, 2013 9:35 pm Post subject:

http://www.newstrackindia.com/newsdetails/2013/09/12/393--Mallya-battles-against-winding-up-Kingfisher-.html

Mallya battles against winding up Kingfisher

12 Sep 2013

Debt-ridden Kingfisher Airlines' beleaguered chairman Vijay Mallya is battling against aircraft lessors and financiers who moved the Karnataka High Court for winding up the company for defaulting on loans by his holding company - United Breweries Holdings Ltd.

"As the cases are in the high court and the matter is under sub judice, I will not be able to comment. Though five winding up petitions are before the company court, we are in talks with two of them for out of court settlements," Mallya told reporters on the margins of the company's 97th annual general meeting (AGM) here.

Asserting that the Rs.250 crore the holding company had deposited in the court would take care of the winding up petitions, Mallya said serious claims were only from three of the five petitioners.

"We are not in favour of winding-up as we are continuing our efforts to review the airline," Mallya said.

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HAWK21M · Posted: Thu Sep 12, 2013 10:46 pm Post subject:

Its becomming a matter of pride/prestige for VJM.....Else which investor would want to take this loss on hand......
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The_Goat · Posted: Thu Sep 12, 2013 10:56 pm Post subject:

Jeh · Posted: Fri Sep 13, 2013 9:08 am Post subject:

747-237 · Posted: Sat Sep 14, 2013 6:32 pm Post subject:

Kingfisher Airlines gets four weeks time for submitting revival plan

http://timesofindia.indiatimes.com/business/india-business/Kingfisher-Airlines-gets-four-weeks-time-for-submitting-revival-plan/articleshow/22581504.cms
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Nimish · Posted: Sat Sep 14, 2013 6:37 pm Post subject:

theflyingsikh · Posted: Sat Sep 14, 2013 7:24 pm Post subject:

This news apart.

I can't get over the number of spelling mistakes this news article contains.
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ameya · Posted: Mon Sep 16, 2013 10:14 am Post subject:

Well the team internally has started working on submitting a proposal for revival.

Interestingly, the CEO has shifted to Miami and is working out of there or may I say is accessing emails from there, considering there is no work !

747-237 · Posted: Wed Sep 25, 2013 1:51 am Post subject:

http://www.deccanherald.com/content/359174/kingfisher-plans-rope-investor-90.html

Kingfisher plans to rope in investor in 90 days

Sep 24, 2013

Kingfisher Chairman Vijay Mallya on Tuesday said that the airline is in discussion with a foreign investor to revive the beleaguered carrier and added that he expects some positive outcome in 90 days.

“We have submitted three different restart plans to the DGCA but have not heard back from them, however, we gather informally that they would like to see a full recapitalisation plan. In our current discussions with an interested investor we are focusing on that,” Mallya said.

He added that all he can say is that it is a foreigner, but was not at liberty to give further details because of strict confidentiality clauses.

“I expect this to take some form or shape in about 90 days which is my own estimate and it could take longer or happen even earlier.”

Declining further details, Mallya said that given all that has been speculated upon, this investor is very sensitive to identities being revealed, so, “let's give it a good try to get Kingfisher Airlines restarted and not have a situation wherein another investor has been driven away because of statements taken by somebody or actions taken by somebody or speculations in the media.”
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747-237 · Posted: Wed Sep 25, 2013 6:19 pm Post subject:

Mallya blames employees for grounding of Kingfisher

http://newindianexpress.com/business/news/Mallya-blames-employees-for-grounding-of-Kingfisher/2013/09/25/article1802334.ece
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harshwcam3 · Member Joined: 18 Oct 2012 Posts: 114

747-237 · Posted: Thu Sep 26, 2013 8:56 pm Post subject:

One of the IT A321s stored at Bombay, VT-KFN, has been ferried out to Istanbul.
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Jaysit · Member Joined: 19 Dec 2006 Posts: 4346

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

Kingfisher Airlines employees defer planned hunger strike
News
27-Sep-2013 10:48 AM
Kingfisher Airlines employees have reportedly deferred plans to conduct a hunger strike, initially scheduled for 26-Sep-2013, until further details on a Karnataka High Court on partial salary payment and confirmation by the carrier that it is in talks with a foreign investor on its potential revival (CNBC-TV18/First Post, 26-Sep-2013).

sammyk · Posted: Sun Sep 29, 2013 7:39 pm Post subject:

The hunger strike will be postponed until after the buffet lunch.

The_Goat · Posted: Mon Sep 30, 2013 12:20 am Post subject:

747-237 · Posted: Mon Sep 30, 2013 1:00 am Post subject:

As on date, out of the 12 aircraft of Kingfisher Airlines still in the country, nine are owned by Cayman Islands-based lessors and three are owned directly by Kingfisher Airlines. KF Turbo Leasing owns six such planes, while CJ Leasing (Cayman) owns one and TP Leasing (Cayman) owns two. Interestingly, CJ Leasing (Cayman) and TP Leasing are registered with the same address in the Cayman Islands.

Apart from the Kingfisher Airlines aircraft, CJ Leasing (Cayman) also owns the private jet of Vijay Mallya.

http://www.financialexpress.com/news/kingfisher-airlines-under-cbi-lens-over-aircraft-lease-loans/1176033/0
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flyjet787 · Member Joined: 26 Jan 2010 Posts: 282

Kingfisher Airlines under CBI lens over aircraft lease loans

Mallya’s grounded Kingfisher Airlines is facing fresh trouble with the Central Bureau of Investigation’s needle of suspicion turning towards it for allegedly misusing the aircraft sale and lease-back model to siphon off bank funds of around R2,200 crore.

http://www.financialexpress.com/news/kingfisher-airlines-under-cbi-lens-over-aircraft-lease-loans/1176033?r