The 14th Additional Chief Metropolitan Magistrate court issued the NBWs on March 10 against the now-defunct Kingfisher Airline
The Supreme Court on Thursday gave a final opportunity to fugitive businessman Vijay Mallya, accused in bank loan default case of over Rs 9,000 crore involving his defunct Kingfisher Airlines, to appear before it personally or through his lawyer in a contempt case where he has been found guilty. The top court said it has given multiple opportunities to Mallya to appear either personally or through a lawyer and had even given specific directions in its last order dated November 30, 2021. A bench of justices U U Lalit, S Ravindra Bhat and P S Narasimha posted the contempt case for further hearing after two weeks, saying that respondent contemnor (Mallya) is at liberty to act as per direction given in order dated November 30 last year, failing which the matter shall be taken to its "logical conclusion".
Data shows of the 385 companies, which had announced their latest shareholding, fund houses cut their stake in about 200.
Says market share will further increase after induction of Boeing 787 Dreamliners and flights to new destinations.
The employees have alleged that Mallya, who has been giving them false promises, has been able go away scot free by eliciting "political favours".
While higher fuel costs and irrational pricing are key concerns, infusion of funds to retire debt is crucial if Kingfisher Airlines has to improve its financials.
Heineken could call a shareholder meeting to vote on his ouster from a company his father built into a family empire
Airline may cut its fleet from the existing 64 planes over the next few months.
The list of negatives on Kingfisher Airlines is getting longer.
Mallya's Rajya Sabha declaration lists investments in racing, finance and investment firms.
Finnair has said that flying from Helsinki to Bangalore and Chennai, where Finnish companies have a large business presence, is part of its expansion plans, besides leveraging from an alliance with Kingfisher Airlines in India.
SBI has already exceeded the exposure limit of Rs 1,436.1 crore (Rs 14.36 billion) in Kingfisher.
HPCL is the largest supplier of jet fuel to Kingfisher.
According to the department, Kingfisher owes the sum for the April-September period and Air India's is for the period between April and August.
The GVK Group-run MIAL issued a notice to the airline on Thursday.
After some initial take off turbulence, Gopinath is now actively steering the air cargo business steadily with equity infusion from Reliance Industries.
Premier airlines, British Airways and Kingfisher Airlines, are likely to announce a codeshare agreement next month which would facilitate seamless travel for passengers, who can also enjoy benefits while travelling on each other's networks.
Flight schedules to be affected more than thought earlier.
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.
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.
Bollywood actress Deepika Padukone and Sidhartha Mallya, the owner of Kingfisher Airlines, judged models for the Kingfisher Calendar 2011 in Mumbai on October 26.
It is clear that foreign airlines have realised the growth possibilities of the Indian aviation sector and are keenly interested, the minister said.
Several passengers have been complaining on social media as domestic airlines have decided not to give refunds in cash for cancelled flights due to the lockdown and instead issue credit for future travel.
Till now in Kingfisher, the number was not fixed and depended on the number of hours flown.
Higher economic growth and affordability will help Indian aviation firms register strong growth.
Flights to the UK and other European destinations of Air India, Jet Airways and Kingfisher Airlines remained cancelled for the sixth consecutive day today in the wake of huge clouds of volcanic ash emanating from Iceland.
If Mallya does not appear before the court, he risks being declared a fugitive economic offender, besides properties linked to him being confiscated.
It may hit Kingfisher, Paramount restructuring.
As per the latest shareholding pattern filed by Kingfisher with the stock exchanges on Wednesday, ICICI Bank held about 1.67 crore (16.7 million) shares, accounting for a 2.9 per cent stake, in the airline as on March 31, 2012.
"We have not chanced upon any leads so far," Bengaluru City Deputy Commissioner of Police (North-East Division) Basavaraj Malagatti told PTI, even as a police official said in Thiruvananthapuram "we are collecting all the details from both the airports for analysis". The investigation would look into all aspects including on how the explosive material made its way into the cargo hold, the source from where it was procured, the official said in Thiruvananthapuram.
A debate regarding the security breach at the Bangalore International Airport due to which someone managed to plant a crude bomb on a Kingfisher Airlines aircraft from Bangalore to Thiruvananthapuram is on with the authorities blaming each other for the incident.
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.
Second deal in 4 months after tie-up with RIL for cargo airlines.
Vijay Mallya-promoted Kingfisher Airlines is flying into turbulence. More than 150 of its pilots have left in the past year-and-a-half, citing various reasons. Even though others have joined, the current shortage is estimated at 35 pilots, forcing the airline to ground some of its aircraft, cancel leaves of flight commanders, and put senior executives from the operations department on flying duty.
A major security lapse was reported at Nedumbassery airport in Cochin on Sunday morning after explosive chemical material was found on board Kingfisher Airline flight no 2482. The flight was detained for two hours while a thorough check was carried out after smoke was seen emanating from the cargo of the flight.It was found that a box addressed to a detergent company in Chennai contained boric acid and other chemicals which could have caused an explosion.
The carrier had planned a GDR issue in December last year to reduce its debt but had failed to do so as its stock prices began slumping.
In August, IndiGo makes its international debut with a nine-aircraft fleet to fly to destinations in Southeast Asia and West Asia.
Three major domestic carriers -- Air India, Kingfisher Airlines and Jet Airways -- will together require around $10-12 billion (Rs 47,000-Rs 560,000 crore) over the next two-three years to fund their aircraft acquisition plans, an aviation think tank has said.
Vijay Mallya, promoter of debt-ridden Kingfisher Airlines, would have his stake falling a little below 50 per cent in the company, if a comprehensive debt restructuring is approved by the shareholders on December 20. On a fully diluted basis, it will drop by little over 16 per cent from the current 66 per cent.
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.
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