The Supreme Court on Friday rejected Kingfisher Airlines' plea against the Karnataka High Court's order directing it to deposit around Rs 185 crore with the Income Tax Department as TDS from its employees' wages.
Vijay Mallya-promoted Kingfisher Airlines's international service, which is expected to start by January 2008, will be staffed entirely by foreign cabin crew.
Barely a fortnight after it launched international operations and integrated low-cost carrier Simplify Deccan with it, Vijay Mallya-promoted Kingfisher Airlines plans to lay off at least 300 employees, official orders for which are to be conveyed on Monday.
Flight schedules to be affected more than thought earlier.
At a time when airline across the world is hit due to slowdown and Air India is facing its worst-ever crisis, Kingfisher Airlines announced the launch of flights on eight international routes before the year-end.
Cash-strapped Kingfisher had the best on-time performance in the last three years and low cost airline IndiGo registered the highest passenger load factor while national carrier Air India remained the worst performer on both the parameters.
Rumours of Prock-Schaeur's departure have been rife ever since he completed three years with the airline (which was when his contract freed him to leave the carrier without any financial implications). Wolfgang's departure will be the latest in a series of departures from Jet Airways. In the last few weeks, Kingfisher has lured away several senior executives including Murli Ramachandran, senior general manager for airport services.
Kingfisher Airlines said it would "vigorously challenge" the bank's decision.
Finnair flies six-days a week (except for Tuesday) from New Delhi to Helsinki.
Striking Kingfisher employees decided to resume work from Thursday after an agreement with the management over salary issue.
Beleaguered Kingfisher Airlines on Wednesday announced further reduction in its flight schedule and said its promoter Vijay Mallya will meet the pilots agitating over delayed salary on Thursday.
Kingfisher Airlines, owned by Indian liquor baron Vijay Mallya, is in talks with two foreign carriers, including International Airlines Group (IAG) -- the owner of British Airways and Iberia -- for a potential rescue package, a report said.
For the last five days, operations of the airline have been grounded completely due to a strike called by the engineers and a section of pilots demanding immediate release of salaries stuck for over seven months.
Plans to remove onboard bar to create space.
Private airlines owe a total of Rs 710.14 crore to the AAI.
Cash and carry basis means the airline will not be allowed to operate flights out of Mumbai unless it pays for landing and parking for each movement on an immediate basis.
Kingfisher will be permitted to fly abroad this year, following its acquisition of Air Deccan. Since Air Deccan will be eligible for the international arena this August, Kingfisher too will enjoy this right.
Succumbing to government pressure, Vijay Mallya-promoted Kingfisher Airlines on Monday decided to cut fares, but with the condition that the government put aviation turbine fuel in the declared goods category. Kingfisher has also assured that it would not resort to retrenchments to deal with the downturn.
Kingfisher Airlines, which is already facing a safety audit by the country's civil aviation regulator DGCA, on Thursday came under fresh scrutiny following reports that one of its pilots flew a woman in the cockpit in violation of rules.
Currently, Kingfisher offers international flights to just London and Colombo, Kingfisher Airlines Ltd vice-president (Global Sales) Siva Ramachandran said, adding that there is a proposal for including destinations like Singapore, Hong Kong, Bangkok, Kuala Lumpur, Dhaka, Dubai and Maldives.
More than a year after joining hands with Kingfisher Airlines, Jet Airways is still in talks with the Vijay Mallya-led carrier for code sharing and other initiatives to achieve operational synergies and reduce costs.
The civil aviation ministry granted the traffic rights to Deccan Aviation, in which Kingfisher Airlines merged in 2007, to operate services to London and other global destinations. The airline, which has already firmed up plans to launch its Bangalore-London (Heathrow) flight from the first week of September, would be starting its international services on the rights granted to Deccan Aviation on the India-UK sector.
If standard accounting standards were followed, the loss would have been about Rs 1,090 crore.
Low-cost carrier Kingfisher Red will shut down in four months with the airline group chief Vijay Mallya on Wednesday saying several measures have been initiated to face financial problems caused by high interest burden and burgeoning fuel costs.
Overseas investors, which have been trimming their holdings in Kingfisher Airlines in the past three quarters, have increased their stake marginally in the cash-strapped carrier during the March quarter, according to data available with bourses.
FIIs, on the contrary, have been exiting the stock.
Ealier at a press conference, the Oneworld also announced the joining of Srilankan Airlines in its fold.
The Supreme Court on Tuesday deferred hearing on Vijay Mallya-owned Kingfisher Airlines' plea challenging Karnataka High Court's order to deposit around Rs 185 crores with the Income Tax Department as tax deducted at source (TDS) from its employees' wages.
Last Friday, DGCA issued a show cause notice to the airline why its operating permit should not be suspended.
The airlines sources confirmed the development and said the management is negotiating with the developers to resolve the deadlock.
With combined accumulated losses of around Rs 2,000 crore (Rs 20 billion), the new entity created by the merger of unlisted Kingfisher Airlines with Deccan Aviation will have many strengths, but its balance sheet will not be one of them.
It says the move will help generate additional revenue.
Malvinder Singh's name is thrown up by rumour mills, after Tata, Reliance & Sahara.
With no end in sight to the 16-day impasse over a lockout and strike by its workers, Kingfisher Airlines management has called a meeting with their representatives on Wednesday in a last-ditch effort to convince them to return to work.
Experts say carriers will start making money on higher ticket prices, but jet fuel costs may act as a dampener
A Kingfisher pilot, who had allegedly flew a woman in cockpit in violation of safety rules from Delhi to Mumbai on Sunday last, has been taken off the duty pending a probe by the airline.
The government is not considering closure of any airline, new DGCA chief Prashant Sukul said on Thursday while rubbishing reports that his predecessor, E K Bharat Bhushan, was removed for taking a tough stand against Kingfisher Airlines.
Air Deccan, which was forced to sell 26 per cent to Kingfisher Airlines chairman Vijay Mallya's UB Holdings to keep its head above water a few months ago, is likely to break even before Kingfisher.
Most of the Air Deccan aircraft that await repainting are small single-aisle ATR jets. When contacted, the Kingfisher Airlines spokesperson said re-painting of aircraft is typically done when the aircraft visits the maintenance, repair, overhaul workshop for scheduled maintenance checks.
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