Air India, Jet Airways and Kingfisher Airlines have decided to stop the low-fare advance purchase schemes, saying the airfares would now be decided by the market. Some no-frill carriers will follow suit over the next few days. However, regular fares and the fuel surcharge are not being touched. Industry sources said the decision to withdraw lower-level fares was taken as these did not stimulate demand and also in anticipation of a spurt in demand for summer holiday travel.
SBI has the largest exposure of Rs 1,500 crore (Rs 15 billion) to the airline which has not been serviced since this January.
Jet, Kingfisher rebuff Praful Patel, budget carriers reduce fares. As of now, though, the two private airlines remain steadfast in their refusal to cut fares even as Patel's pleas acquire a hint of aggression.
While one NBW was issued in a 2012 cheque bounce case following Mallya's non-appearance, another was in a case of allegedly evading summons in a FERA violation matter.
The passengers, who reached Delhi by Kingfisher Airlines, missed their connecting flight as the flight from Srinagar was delayed. Officials of the airlines allegedly did not make alternative arrangements for their stay nor did they help them to catch another flight to Chennai.
With the London airport opening up after wide-spread flight disruptions caused by volcanic ash from Iceland, Air India and Jet Airways on Wednesday readied themselves to resume operation to the UK.
Brewing billionaire Vijay Mallya's woes seem to be compounding. His flagship spirits arm, United Spirits Ltd (USL), is starting to mirror Kingfisher Airlines.
Career opportunity with Kingfisher Airlines as flight attendants or in-flight managers for positions across Mumbai, Delhi, Bangalore, Kolkata, Hyderabad and Chennai.
Also lining-up for the September 24-30 ATP event are Marcos Baghdatis and Richard Gasquet.
Protesting against the government efforts to reduce high prices charged by airlines on tickets booked at short-term notice, Kingfisher Airlines promoter Vijay Mallya on Monday said that airfares should not be capped by the regulatory authorities, whether it is in upper or lower band.
Sebi's order comes close on the heels of Central Bureau of Investigation naming Mallya, Kingfisher Airlines and nine others, in the charge sheet related to the 2015 loan default case.
The Enforcement Directorate had asked for financial details from both public and private sector banks and a part of these details were submitted last week
The stock exchanges have raised various concerns mainly about two UB Group firms -- Kingfisher Airlines and United Spirits -- for not providing required disclosures and not adhering to deadline regarding finacial results and the annual general meeting.
Heineken could call a shareholder meeting to vote on his ouster from a company his father built into a family empire
IOC encashed the bank guarantee Kingfisher had given for buying aviation turbine fuel or ATF for its fleet of 75 aircraft, 10 days ago, industry sources said. As on April 20, the private air-carrier owed IOC about Rs 160 crore (Rs 1.6 billion) in fuel bills. It sent a cheque of this amount to IOC but the cheque bounced, forcing IOC to encash the bank guarantee.
Uniform NPA classification proposed; Kingfisher, Winsome Diamonds among top 3 in finance ministry's top-50 defaulters list
In August, IndiGo makes its international debut with a nine-aircraft fleet to fly to destinations in Southeast Asia and West Asia.
A Kingfisher Airlines flight from Srinagar to Delhi was on Wednesday diverted to Jaipur where 28 passengers on board, including a Jammu and Kashmir minister and his family members, were allowed to deplane. The move came under attack from other passengers, who said it was done to facilitate the VIP for his pilgrimage to Ajmer.The airlines flatly rejected the charge as 'absolutely untrue', saying the flight had to be diverted to Jaipur on account of 'VIP movement' at the Delhi
India's foreign direct investment policy allows foreign investors to pick up 49 per cent stake in domestic airlines, but foreign airlines are not permitted.
A consortium of Indian public sector banks led by SBI sought a bankruptcy order against embattled liquor tycoon Vijay Mallya during a high court hearing in London on Wednesday as part of efforts to recoup around 1.145 billion pounds in unpaid loans. Mallya's legal team, led by barrister Philip Marshall, argued for the bankruptcy petition to be dismissed because their client was being unfairly pursued by the banks in India and the UK on opposing grounds.
Mallya donated the gold after offering worship and requested temple authorities to use it for gilding the doors at the sanctum sanctorum, Tirumala Tirupati Devasthanams deputy executive officer (temple) Chinnamgari Ramana told PTI.
Air services of cash-strapped Kingfisher airlines were badly hit on Sunday with almost half of its flights from major metros cancelled or delayed, causing hardship to passengers and prompting aviation regulator DGCA to contemplate action against the beleaguered carrier.
The CBI recently approached the special court in Mumbai for issuance of LoR to conduct a probe to ascertain utilisation of funds received in the US-based bank accounts of Mallya and now defunct Kingfisher Airlines.
He still owes hundreds of crores to OMCs.
A UK court hearing an urgent application on Monday refused to sanction the release of substantial sums held with the Court Funds Office (CFO) as part of bankruptcy proceedings being pursued against liquor tycoon Vijay Mallya by a consortium of Indian banks, led by the State Bank of India (SBI).
Kingfisher lenders will soon decide on future course of action with regard to the grounded airline as they do not want the company to close down, State Bank of India (SBI) said.
Mallya has denied that he had fled India and said he would comply with laws.
Kingfisher Airlines, the wholly owned subsidiary of United Breweries, on Tuesday announced the operation of daily Airbus A320 flights on two new routes - Bangalore-Chennai and Bangalore-Hyderabad from Wednesday.
Having failed to receive their May salary as assured by the Kingfisher management, the airline pilots have now threatened to approach DGCA if they did not meet the commitment by today even as the regulator maintained that the issue is out of its purview.
A local court in Hyderabad has issued four more non-bailable warrants (NBWs) against businessman Vijay Mallya after he failed to appear in a court here in connection with alleged dishonour of cheques amounting to Rs 2 crore (Rs 20 million) to GMR Hyderabad International Airport Ltd.
Jet Airways, the nation's largest private airline, saw its unpaid jet fuel bills rise by over 65 per cent to Rs 849 crore (Rs 8.49 billion) in the first six months of the 2011-12 financial year, while the dues of Kingfisher Airlines grew by less than 4 per cent during the same period.
After taking off, the captain of the Kingfisher Airlines flight from Hyderabad to Delhi alerted air traffic control saying that he was receiving a smoke detection indication in the cargo hold of the aircraft. As per standard airline procedures, he requested to return to Hyderabad. During the precautionary unloading of the cargo, an un-identified substance was located.
Kingfisher Airlines has introduced the Kingfisher First Companion offer, exclusively for its business class travellers.
The domestic air travel in the first three months of this year witnessed a sharp fall with the number of passengers carried declining by almost 12 per cent over the same period last year.
Bangalore's new airport will be ready on March 7 to receive the first commercial test flights. It plans to start commercial operations on March 28 or 30, soon after Hyderabad's new airport does so on 16 March.
The famous tag of "king of good times", used equally for Mallya and his Kingfisher beer, has been punned mercilessly in newspaper headlines to highlight the trouble in his airline.
In the 42 months since Air Deccan became a credible and stable challenger to the erstwhile ruling triumvirate of Jet Airways, Indian Airlines and Sahara, the new entrants have garnered about 44 per cent of share of the market.
According to the figures for January, budget carriers alone -- such as SpiceJet, GoAir, IndiGo, apart from Deccan -- have 34 per cent share of the market. A year ago, the figure was only 20.8 per cent.
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