As the competition between new airlines to attract passengers becomes increasingly cut-throat, damage caused to a plane by a toppled step-ladder has become the bone of contention between the two carriers.
This is the first time an airline has made such a request to the ministry after the Tata-Singapore Airlines deal fell through in 2001 (Singapore Airlines was to have a 49 per cent share in the joint venture). The Indian government does not allow direct or indirect investments in domestic airlines, a move that was meant to protect domestic carriers. Mallya's request marks a sharp change from domestic players' stand.
On Saturday, bankers met the KFA management in yet another inconclusive meeting.
The share swap is expected to be in the ratio of 1: 3, where SpiceJet shareholders will get one share of the merged entity for every three SpiceJet shares owned by them.
Regulator said that no permit will be given until it submits a revival plan.
With a view to strengthening its presence in tourist circuits, Kingfisher Airlines is all set to introduce direct non-stop flights from Goa to Agra next month, thus becoming the first domestic airline to serve these cities.
The 2005-operational airline that plied over 400 flights in November, cut it down to 180 flights a day by last month.
These single-aisle planes, made by European consortium Airbus Industrie, can seat between 160 and 180. They are considered ideal for domestic and short-haul international operations.
From a valuation of Rs 2,500 crore (Rs 25 billion) two years ago, the brand on Wednesday has come to nought.
: Kingfisher Airlines has launched a new service between Guwahati and Imphal.
Jet Airways, Kingfisher Airlines and Air India will have till March to settle the Rs 2,900-crore fuel bill they owe the state-owned refiners even as the oil companies today agreed to increase the credit limit for the airlines to 90 days.
"Fresh viability is there for everyone to see. If they [Kingfisher] get more equity, the company is viable," SBI Chairman Pratip Chaudhuri said.
Nearly 700 of the 1,500 employees, who still claim to be on the payroll of the defunct airline, are women.
No-frill carrier Kingfisher Airlines on Monday signed a contract for buying five Airbus A 340-500 long-haul aircraft and an option to acquire five more, with plans to operate direct flights to the US.
After razing his ancestral bungalow, housed in an expansive 4.5-acres of prime location in the central business district of Bangalore, Mallya's attempt to unlock value in the land by building the luxury KingfisherTowers has been stalled.
The employees have alleged that Mallya, who has been giving them false promises, has been able go away scot free by eliciting "political favours".
About 200 passengers arrive in the city through these flights and the number is expected to increase after the introduction of Kingfisher's flight, further boosting the tourism, sources added.
It had net loss of Rs 355.55 crore (Rs 3.55 billion) in the January-March quarter of 2010-11, Kingfisher said in a filing to the BSE.
The offer was made to the employees representatives, who have been demanding payment of pending salary dues of at least four out of seven months before they resume work, held a meeting with management representatives at the Kingfisher House in Mumbai.
Days after acquiring control of Air Deccan, Kingfisher Airlines Chairman Vijay Mallya now looks at rationalising the fleet of the two carriers and considering changes in the total fleet order of 90 aircraft.
The company's net loss widened to Rs 444.26 crore (Rs 4.44 billion) for the quarter ended December 31, 2011, due to high fuel costs and weaker rupee from Rs 253.69 crore (Rs 2.53 billion) in the October-December quarter in the last fiscal.
Low-cost carrier Air Deccan and liquor baron Vijay Mallya-promoted Kingfisher Airlines have agreed not to "poach on one another's territory and instead help each other."
Lenders to Kingfisher Airlines (KFA) will meet its promoter, Vijay Mallya, and the rest of the brass on Monday, to chart a way forward for the grounded airline.
Banks have already sold the pledged shares of Mangalore Chemicals and Fertilisers, realising around Rs 100 crore. Mallya and group companies have pledged over 97 per cent of the USL shares with various banks and others, which according to current market prices is worth over Rs 6,500 crore (Rs 65 billion).
The aviation sector is upbeat, with Jet Airways and SpiceJet recording profits in the quarter ended June and foreign institutional investors (FIIs) increasing their stakes in all the three listed carriers Jet Airways, Kingfisher Airlines and SpiceJet.
Currently, airlines, including Jet Airways and Kingfisher Airlines, undertake their own ground-handling. But under the new policy, they will not be permitted to do so. Carriers have said that at least 8,000 employees working in these companies will need to be given the pink slip if the new policy is implemented. They have also argued that outsourcing will dramatically increase their overall costs, especially at a time when airlines are reeling under losses.
Kingfisher Airlines chief Vijay Mallya today said the company was negotiating with banks to reduce the high interest rates on its Rs 6,000 crore (Rs 60 billion) debt but maintained the air carrier was not suffering from a "huge" debt burden.
The suggestion comes within days of reports that LIC and the Employee Provident Fund Organisation snapped up the entire Rs 7,400-crore (Rs 74-billion) bond issue of the debt-ridden Air India.
They may not exactly be making great profits, but three airlines are fighting each other out on the billboards.
Higher economic growth and affordability will help Indian aviation firms register strong growth.
A drunk British socialite reportedly stripped to her knickers and cavorted with a male passenger in full view of fellow travellers on a Kingfisher Airlines flight from Bangalore to Heathrow.
After declaring that it would do whatever it takes to cut flab, Kingfisher Airlines has now said it will not retrench cabin staff.
Trouble for cash-strapped Kingfisher Airlines again erupted today with at least 30 flights either being cancelled or clubbed as several pilots and other staffers failed to report for work to protest delays in salary payments.
