This partnership also marks for the first time ever that an Indian airline has partnered on this scale with anyone in the F1 circuit worldwide.
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.
The auditors said that the carrier's second-quarter net loss would have been much higher, at about Rs 1,032 crore, had it followed "generally accepted accounting standards" for certain income and expenses.
On Saturday, bankers met the KFA management in yet another inconclusive meeting.
Banks who had lend to Kingfisher Air are finding it difficult to recover dues.
The letter came on a day when at least 16 Kingfisher flights, 10 from Mumbai and six from Delhi, were cancelled due to the strike.
I-T dept refuses to unfreeze a/cs; airline curtails operations; SBI, other bank stocks take a knock
The agency is also investigating the overall financial structure of Kingfisher Airlines.
The Central Bureau of Investigation has started a preliminary enquiry looking into the Rs 950 crore (Rs 9.5 billion) alleged bad loan given by IDBI Bank to Kingfisher Airlines ignoring the company's negative credit ratings and net worth.
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.
Bollywood actor Salman Khan launched the Kingfisher Calendar 2011 in Mumbai over the weekend. Here's a look at the stars in attendance!
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.
Kingfisher Airlines, promoted by the UB Group, expects to get into the black in December. According to Ravi Nedungadi, president and CFO, UB Group, the airline has been driving in volumes and efficiencies which is likely to be reflected in the revenues this month.
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 discrepancy was pointed out by the finance ministry in the light of changes in foreign direct investment norms, as specified in Press Note II issued earlier this year, while considering the company's proposal to raise Rs 708 crore (Rs 7.08 billion) through fully convertible warrants. Prior to the Press Note II, the FDI component in Kingfisher Airline was just 16.45 per cent.
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.
FIIs' stake in Naresh Goyal-owned Jet Airways stood at 7.10 per cent during the three months through September, compared to 6.38 per cent during the first quarter of this financial year.
A bench of Chief Justice G Rohini and Justice Rajiv Sahai Endlaw issued notice to the airline and the central government seeking their replies within a week on PNB's plea.
Sebi on Friday barred fugitive businessman Vijay Mallya from the securities markets and restrained him from associating with any listed firm for three years in the matter of routing of funds to the Indian securities market using overseas bank accounts with UBS AG. The Indian government has been attempting to extradite Mallya from the United Kingdom to face fraud charges related to his now-defunct company Kingfisher Airlines. Mallya has been living in the United Kingdom since March 2016.
The Rs 3.6-crore (Rs 36-million) payable by Kingfisher in the court would cover the dues for three months -- July, August and September.
SBI has over Rs 1,500-crore (Rs 15-billion) of exposure to Kingfisher.
Airline had promised them salaries by Diwali.
HPCL is Kingfisher Airline's largest aviation turbine fuel supplier.
Vijay Mallya, chairman and chief executive officer of Kingfisher Airlines Limited was in Washington, DC on Monday to sign a contract worth $300 million with Pratt & Whitney
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.
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.
Kingfisher Airlines, which emerged out of an impasse over salary payment to its staff, is likely to face more trouble soon with the Revenue Department deciding to move the Supreme Court to expedite recovery of about Rs 330 crore dues.
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.
The carrier is loaded by debt of as much as Rs 7,000 crore.
Government has been planning to relax the norm to three years through a revised aviation policy which is pending before a group of ministers.
Here's a glimpse of the sizzling new bikini shots from the recently-launched Kingfisher Calendar 2010!
Buyer actor-producer Sachiin Joshi, who owns Viiking Media, has reportedly bought the villa, spread over 12,350 sq ft or three acre at Candolim.
With promoters unable to raise money, airline may find it difficult to sustain curtailed operations.
Bankers gave money to Mallya's airline though it was not enough to even service existing debt?
After hearing Kingfisher's plea, the COMPAT observed that the CCI had acted beyond its scope in the matter and set aside the penalty.
Kingfisher Airlines had moved the Supreme Court against a probe into its two-year-old strategic alliance with Jet Airways.
Turning down Civil Aviation Minister Praful Patel's plea for a fare cut, full service carrier Kingfisher Airlines on Monday said that at present there was no case for reducing air fare.Other airlines like SpiceJet and IndiGo also said that after the recent round of cuts in fuel surcharge, customers should not expect further benefits in the short term, though there would be some advance purchase packages in January.
