It may just be a well-crafted strategy by Vijay Mallya to sail through the current crisis
As per the present policy, foreign carriers are not allowed to pick stake in Indian airlines. However, the government allows FDI up to 100 per cent in other areas of the aviation sector, like developing of greenfield airports or in cargo and maintenance, repair and overhaul facilities.
The Vijay Mallya-owned carrier would become the first airline from the subcontinent to join any of the global airline groups, the two others being 'Star Alliance' and 'SkyTeam', spokespersons of the airline and the alliance said.
The parent company, UB Group, is willing to pump in money.
The Congress shared a video clip from a recent podcast Mallya did with social media influencer Raj Shamani in which he claimed he had informed Jaitley before leaving India in 2016.
Fugitive businessman Vijay Mallya has said that he will pursue relief for the Enforcement Directorate and banks taking more than two times the debt he owed. His remarks came following a statement by Finance Minister Nirmala Sitharaman in Parliament about recovery of over Rs 14,130 crore from his attached assets.
Following the government move to allow FDI policy in the civil aviation sector, Chairman of debt-ridden Kingfisher Airlines Vijay Mallya on Wednesday said the carrier was in talks with foreign airlines.
Top private sector lender ICICI Bank has decided to discontinue its co-branded credit card with Kingfisher Airlines in the wake of continued grounding of the debt-laden air carrier.
Starting with a minuscule 0.07 per cent share of the market, Kingfisher soared to 7.7 per cent after 12 months and 10.6 per cent in April this year.
Aviation regulator DGCA on Saturday suspended the flying licence of beleaguered Kingfisher Airlines for failing to come up with a viable plan for its financial and operational revival and resolve the impasse withits employees over payment of their salary dues.
In a series of tweets reacting to banks led by State Bank of India taking over management control of troubled Jet Airways, Mallya said, "...Only wish the same was done for Kingfisher".
Lenders of bankrupt airline Jet Airways, led by the State Bank of India (SBI), on Thursday told the Supreme Court that successful bidder Jalan Kalrock Consortium (JKC) was "unwilling" to pay the dues and that the "liquidation" was the only option left. The bench led by Chief Justice of India (CJI) DY Chandrachud was hearing the SBI-led consortium plea against the NCLAT's March order upholding ownership transfer of the bankrupt airline to JKC.
Merged entity to be named Kingfisher Airlines.
Kingfisher Airlines announced the launch of its non-stop service between Bangalore and Goa.
Frustrated over not getting salary for last 10 months, Kingfisher Airlines employees on Wednesday asked the government to prosecute promoter Vijay Mallya and threatened to disrupt IPL matches.
In mid-September, the auditors had raised questions on Kingfisher Airlines' viability to run operations, based on the 2010-11 profit & loss statement.
The Deccan brand, once synonymous with lost cost flying in India, will cease to exist after its merger with the Vijay Mallya promoted Kingfisher Airlines, which will takeoff for international destinations by August. "Deccan will cease to exist because after the merger there will be only one company and that will be Kingfisher Airlines," UB Group chief and Kingfisher Airlines Chairman Vijay Mallya told reporters in Baramati.
Under DGCA norms, aircraft can't take off unless its worthiness is certified by airline engineers after safety check-ups
Kiran Rao, executive vice president (sales and marketing, customer affairs) of Airbus, said they have not 'suspended' Kingfisher orders but 'asked' the airlines not to take deliveries.
A Kingfisher Airlines ATR aircraft, with 42 passengers and four crew members on board, overshot the runway after it landed at Mumbai airport on Tuesday. All the passengers are safe and have been evacuated from the aircraft, a Kingfisher Airlines spokesperson said. "Kingfisher Airlines flight 4142 from Bhavnagar (Gujarat) left (overshot) the runway after landing," a Mumbai International Airport Limited spokesperson said. Both the pilots of the aircraft have been taken off duty
The Yeti Airlines aircraft took off from Kathmandu's Tribhuvan International Airport at 10.33 am on Sunday and crashed on the bank of the Seti River between the old airport and the new airport in Pokhara, minutes before landing, according to the Civil Aviation Authority of Nepal.
Frequent travellers flying Kingfisher Airlines can now avail a special scheme under which the airliner will offer free tickets to persons taking five one way trips.
According to a survey, Indigo is presently the favourite domestic airlines of travellers. It replaced Kingfisher, which won twice in the past.
Losses and lack of bank funds no reason to shut company, says minister
According to sources, Kingfisher Airlines has started disbursing salaries to some of its employees apart from approaching the aviation regulator seeking licence renewal.
Kingfisher Airlines has increased the salary of a section of its pilots, fearing an exodus to rival carriers. Airlines including SpiceJet and IndiGo are in an expansion mode and will be adding 29 planes this financial year, opening new job avenues for pilots.
A total of 17 cases have been filed against Kingfisher Airlines in different courts over outstanding amount of Rs 22.5 crore, which it owes to GMR
Kingfisher Airlines launched on Friday daily services between Mumbai and Srinagar and Delhi and Srinagar.
Kingfisher Airlines has launched its operations with twice daily service on the Mumbai-Bangalore sector. The airline will increase its service to thrice a day from May 20. Flights on the Delhi Bangalore sector are scheduled to commence from June 6.
Kingfisher and Deccan swap of shares will be finalised by April, upon Sebi's approval.
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.
A case has been filed against the airline in Nampally criminal courts in Hyderabad.
The engineers of Kingfisher went on a strike on Sunday to protest the non-payment of salaries since March.
SBI has the highest exposure of Rs 1,600 crore to the beleaguered Kingfisher Airlines.
Vijay Mallya-promoted Kingfisher Airlines today said it had slashed salaries of its trainee pilots 'significantly'.
Kingfisher Airlines' conciliation meeting with Air India recently ended without any result.
Airline employees have been asked not to attend office.
While announcing its results on Wednesday for the quarter ended June, UB Holdings said about a tenth of the corporate guarantees for Kingfisher Airlines were being invoked.
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