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Kingfisher aircraft leasing dispute could impact all Indian airlines
TransportIndian airports have claimed international law must take a back seat to local courts in a row with foreign aircraft leasing firms over the future of grounded Kingfisher Airlines jets, according to government minutes seen by Reuters. The stance taken by Mumbai and Delhi airports could further complicate the leasing firms’ attempts to recover jets [...]
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Kingfisher submits full plan to restart airline with help from Mallya’s spirits
TransportGrounded Kingfisher Airlines submitted a plan to India’s aviation regulator to restart operations, saying its parent group would provide initial funding and asking for its flying license to be renewed. Kingfisher, controlled by liquor tycoon Vijay Mallya, who also owns UB Group, was forced to halt operations last October and owes about $2.5 billion to [...]
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Kingfisher Airlines Chairman tells employees that they’ll be flying again by summer
TransportCaught off-guard by the employees’ decision to move court to seek the closure of Kingfisher Airlines, the private Indian air carrier’s Chairman, Vijay Mallya, wrote a letter to them giving the details of the revival plan. Mallya assured the employees that the management was making every attempt to resume the services of the grounded airline… [...]
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Kingfisher Airlines to lose operating license
TransportKingfisher Airlines Ltd.’s operating license will lapse tonight, after the grounded Indian carrier failed to convince authorities it has enough funds to restart operations following five straight years of losses. The carrier can seek to renew the license within two years, an aviation ministry official, who declined to be identified citing rules, said. A revival [...]
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Kingfisher’s long awaited revival plan isn’t cutting it for state regulators
TransportKingfisher CEO Sanjay Aggarwal on Monday submitted to the Directorate General of Civil Aviation (DGCA) an interim revival plan for limited resumption of the debt-ridden air carrier’s operations… The operations are planned to be restarted on a cash-and-carry basis…DGCA sources confirmed, the fleet could be be scaled up to 11 ATRs and 10 Airbus planes [...]
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IndiGo carried more passengers than any other Indian airline in 2012
TransportThe year 2012 has proved to be a year of gains for both Indi-Go and Air India, who beat Jet Airways in terms of market share by capitalising most on the misfortune of Kingfisher Airlines. However, high fares have kept travelers away from the skies, with the year recording negative passenger growth. While IndiGo toppled Jet [...]
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Etihad now speaking to Kingfisher for buying 48 percent stake
TransportKingfisher Airlines, the Indian carrier that halted flights because of a cash crunch, said Etihad Airways is among possible investors it’s talking to as it seeks to raise funds though a stake sale. Discussions are only at the “negotiation stages” and no agreement has been reached with Abu Dhabi-based Etihad or any other airline, the [...]
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Kingfisher fails to find billion-dollar boost by bankers’ deadline
TransportLenders to Kingfisher Airlines said they are yet to hear from the grounded airline even as the deadline set by the bankers to bring in fresh equity of one billion dollars ended on Friday. However, a banker sounded optimistic about a meeting between the lenders’ consortium and the airline “in the next fortnight”. “We have [...]
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Air India leverages its impressive art collection to woo Kingfisher’s previous corporate clients
TransportAir India is leaning on its rich assortment of artwork, which includes thousand-odd paintings and sculptures by leading Indian artists…to bolster its corporate image. As Air India ropes in more corporate clients with the fall of Kingfisher Airlines, which had the largest number of such fliers, artwork is also envisaged as part of marketing strategy to retain [...]
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Who’s willing to gamble $1 billion on Kingfisher’s unlikely rebound?
TransportKingfisher Airlines Ltd. (KAIR)’s largest lender said the cash-strapped Indian carrier should raise at least $1 billion of fresh capital, stepping up pressure on Chairman Vijay Mallya to deliver on promises of new investment. “We are slightly disappointed at the pace at which the capital-raising plan is going,” State Bank of India Chairman Pratip Chaudhuri [...]
