United Bank's exposure to Kingfisher Airlines was around Rs 350 crore (Rs 3.50 billion)
The launch marks the first time that Kingfisher Airlines is adding destinations from South East Asia to its international route network.
A Kingfisher Airlines flight IT-3149 from Mumbai to Lucknow was grounded at Mumbai airport after a bomb scare. The airline got a call as the plane was taxiing on the runway. The plane was then taken to the isolation bay of Mumbai airport.
India's leading private air carrier Kingfisher Airlines has launched two new international flights connecting the UAE to New Delhi and Mumbai.
has deployed an Airbus A330 aircraft for the service.
Maintaining that civil aviation flew thousands of tonnes of equipment and passengers across the country on a daily basis, he said grant of infrastructure status would help the industry in its dealings with the RBI as well as the commercial banks, both in the private and public sectors. On Kingfisher's global plan, Mallya said the airline would launch services to Hong Kong and Singapore as soon as its aircraft were ready.
Six months after entering into a strategic alliance, Jet Airways and Kingfisher Airlines will soon launch code-share flights on select routes.
The Supreme Court on Monday awarded a four-month sentence to fugitive businessman Vijay Mallya, accused in a bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines, in a contempt case.
Supreme Court judge Justice Rohinton Fali Nariman on Monday recused himself from hearing liquor baron Vijay Mallya's petition against the confiscation of his properties by the Enforcement Directorate.
Kingfisher Airlines flagged off services between Hong Kong and Mumbai with its inaugural flight taking off from Hong Kong's Chek Lap Kok Airport on Wednesday.
A State Bank of India (SBI)-led consortium that gave loans to fugitive businessman Vijay Mallya on Friday received Rs 5,824.5 crore in its accounts after shares of UBL, earlier attached under the anti-money laundering law, were sold recently, the ED said. Mallya is accused in a multiple banks loan default case of about Rs 9,000 crore. The disputes resolution tribunal (DRT) had sold these shares on June 23 after the Enforcement Directorate had transferred shares worth about Rs 6,624 crore of UBL to the SBI-led consortium on the directions of a special PMLA court that is hearing the case involving Mallya in Mumbai. These shares were attached under the Prevention of Money Laundering Act (PMLA) by the ED, a central probe agency.
He claims that his offer to pay back the debt owed by his now-defunct airline had been rebuffed by the banks and the Indian government.
Kingfisher Airlines will operate international flights between Bangalore and San Francisco, Bangalore-New York and Mumbai-London flights from August this year.
A communication goof-up between Vijay Mallya-promoted Kingfisher Airlines and its banker saw a cheque of Rs 12,975 bounce, much to the embarrassment of the country's largest private carrier, which promptly arranged a bank draft for the recipient.
Vijay Mallya-promoted Kingfisher Airlines, which recently got approval to fly on nine international routes, today said it will start direct daily flights from Mumbai to London from January 5, 2009.
The Vijay Mallya-promoted private airline also reported a decline in its income from operations at Rs 1,352.45 crore (Rs 13.52 billion) for the December quarter, from Rs 1,447.83 crore (Rs 14.47 billion) in the same period previous fiscal.
Jet Airways and Kingfisher Airlines said they found it unnecessary to shell out an extra Rs 10 crore for the new terminal, especially since they would have to shift to the new integrated terminal -- T3 -- in less than a year. T3, when it begins functioning in March 2010, will be an integrated terminal for all operators. Kingfisher, Kingfisher Red and IndiGo have already started operations from the new T1D terminal, while Jet Airways, JetLite and SpiceJet are yet to shift.
Kingfisher Airlines is likely to commence international operations from August. It will initially start its operations to destinations like San Francisco, London, New York from the Bangalore Airport. Some more destinations will be added later, according to Siva Ramachandran, vice-president (global sales), Kingfisher Airlines.
The airline, part of Vijay Mallya-led UB Group, has been grounded since October 2012, after being bogged down by huge and mounting losses.
Kingfisher Airlines on Thursday said its vice-chairman G R Gopinath has reduced his stake in the air carrier to 1.75 per cent after selling shares worth Rs 4.03 crore (Rs 40.3 million).
Close on the heels of about a dozen pilots quitting Kingfisher Airlines, 12 more have put in their papers at the Vijay Mallya-owned air carrier.
Union Minister and Rashtriya Janata Dal parliamentarian Akhilesh Prasad Singh allegedly beat up the station manager of Kingfisher Airlines at Patna Airport on Monday after he was not allowed to board Patna-Kolkata flight as he reported late at the airport.
Vijay Mallya-promoted Kingfisher Airlines today said it had slashed salaries of its trainee pilots 'significantly'.
Vijay Mallya owes several banks thousands of crores of rupees which he had taken as loans for his businesses including the now defunct Kingfisher Airlines.
Vijay Mallya-owned Kingfisher Airlines owes state-run oil companies over Rs 950 crore (Rs 9.50 billion0 in unpaid fuel bills while financial crisis-hit NACIL has cleared almost two-thirds of its outstanding.
Jet Airways, Kingfisher Airlines and state-owned NACIL owe public sector oil companies over Rs 2,241 crore (Rs 22.41 billion) as payment for jet fuel, Minister of State for Petroleum and Natural Gas Dinsha Patel said on Tuesday.
Industry sources said the carrier owed over Rs 620 crore to BPCL and HPCL, besides Rs 160 crore to IOC. However, Kingfisher Airlines is not the only company with oil dues. Kingfisher Airlines, Jet Airways and state-owned Air India started this financial year with accumulated dues of Rs 4,000 crore to oil companies and airports, sources said. The three airlines are collectively projected to incur operating losses of Rs 5,000 crore, industry estimates suggest.
Two months before its maiden overseas flight was to take off, billionaire Vijay Mallya's Kingfisher Airlines has decided to rethink its whole strategy of flying abroad. "Due to the increase in crude oil prices and no signs of stability in the market, we are re-evaluating all our plans for international operations, keeping in mind costs and route network," Kingfisher Airlines executive vice-president Hitesh Patel said in reply to a questionnaire.
This is the third time that the carrier is trimming its workforce. In 2007, the carrier cut staff by1,200 after it took over Air Sahara. In August this year, JetLite offered over 700 employees a voluntary separation scheme. This is the first time that the axe is falling on Jet Airways employees directly.
Kingfisher Airlines is launching its flight operations in Jammu from November 25 while GoAir has announced doubling its flight operations, also by the end of this month. Initially, it will operate seven flights a week. The company has appointed staff and raised infrastructure for the operation of its offices in Jammu. Kingfisher has been operating in Srinagar for more than a year.
The apex court's 2017 order had come on a plea by consortium of banks led by SBI, which had said that Mallya had allegedly transferred $40 million received from British firm Diageo, to his children in 'flagrant violation' of various judicial orders.
State-run IDBI Bank is one of Kingfisher's more than a dozen creditor banks.
Mallya now has 14 days from February 4 to apply for leave to appeal to the UK high court.
Mallya said, the ED on the one side and the banks on the other are fighting over the same assets.
Kingfisher and Deccan swap of shares will be finalised by April, upon Sebi's approval.
The investigating agency is examining the documents.
In March this year, the banks tried to sell the Kingfisher House in Mumbai to recover a part of their dues.
Airfares may be in for an upswing. Thanks to Vijay Mallya-promoted Kingfisher Airlines acquiring 26 per cent stake in country's largest and first budget carrier Air Deccan.
Probe agency to set up special software to probe money trail in the case.
Kingfisher Airlines chairman Vijay Mallya on Tuesday said budget carrier Air Deccan has applied for permission to fly overseas from next year. "Air Deccan has sought government approval to fly overseas from next year. The company is looking for a licence to start flights to Middle East, South East Asia and the US," he said on the sidelines of the Fortune Global Forum in New Delhi.
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