Capt Gopinath, in a deperate bid to fend off a possible auction of his prime residential property in Bangalore by State Bank of India, which had earlier issued notices to sell his pledged properties to recover as much as Rs 259 crore (Rs 2.59 billion), has struck a deal with Sobha Developers to raise funds.
Discussions have been initiated to sell the company to a Mumbai-headquartered, highly diversified, multi-billion dollar corporate group which has interests in retail and logistics, among various others.
Captain Gopinath's dream of making every Indian fly will now remain just that. But this will rise to another: Mallya's dream of making Kingfisher one of the world's top airlines.
Capt Gopinath is trying to reinvent the charter business.
These are troubled times for the 'King of Good Times', Vijay Mallya. His airline, Kingfisher has been hogging the headlines for all the wrong reasons.
In ideologically discordant notes within Aam Aadmi Party, Captain Gopinath, pioneer of low-cost airline business, slammed the decision of AAP government in Delhi to reject FDI in retail, saying the party is "running in danger" of being branded like other parties of resorting to cheap and populist measures.
Two years after selling his budget carrier, Air Deccan to Vijay Mallya-owned Kingfisher Airlines, its former chairman Captain G R Gopinath, still harbours a dream to return to the low-cost airline segment, which he pioneered in the country.
Budget carrier Air Deccan on Friday said it has launched direct daily flights to Nagpur, Pune and Goa from Hyderabad, as part of its strategy to connect smaller cities with different hubs.
Air Deccan is going to a lot of sectors where nobody is going, places like Dehra Dun, Belgaum, Hubli and Kolhapur, we are very focused on the other India.
The Aam Aadmi Party's spectacular electoral debut in New Delhi is now creating ripples down south.
Vijay Mallya has lost control of his companies.
For his 60th birthday in December, which he called his third 20th birthday, Mallya flew in Enrique Iglesias to perform at his villa overlooking the beach in Goa.
Several former colleagues say Kejriwal is undemocratic. But his loyalists stand stoutly behind him
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