Weighed down by rising crude prices, Vijay Mallya-promoted Kingfisher Airlines is in negotiations with international carriers to sell two of the five A340-500 aircraft it had committed to buy from Airbus last year. The airline may also defer taking deliveries of 29 narrow-bodied A320s, airline sources said.
The UB Group on Tuesday said that chief operating officer and president of Kingfisher Airlines, Alex Wilcox had not resigned, and he has been given "reasonable time" to resolve some personal matters.
For providing the additional level of collateral for its funding needs, the company paid a little over Rs 50 crore (Rs 500 million) to Mallya as 'guarantee and security commission' during the year ended March 31, 2011, Kingfisher has told its shareholders.
The aircraft to be operated would be an ATR-42 type capable of carrying around 40 passengers, Deshmukh said, adding he was holding talks with a senior Kingfisher official on Monday for following up the issue with DGCA in Delhi. The Ojhar airport is restricted for Indian Air Force activity and is occasionally used for VIP flights.
Jet Airways, SpiceJet, Kingfisher and other airlines have told the government that they would curtail services frequency and air routes to cut losses after oil companies raised the prices of aviation fuel.
Jet Airways and Kingfisher will operate an additional flight each from Delhi and Mumbai to Chandigarh, which is adjacent to Mohali.
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.
Kingfisher promoter Vijay Mallya is ready to infuse Rs 425 crore (Rs 4.25 billion) into the airline and restart its limited operations as soon as DGCA gives a go-ahead, the lead lender to the grounded carrier SBI said.
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.
Kingfisher Airlines' schedule was disrupted on Saturday with cancellation of over 30 flights as its pilots struck work to protest non-payment of wages for almost five months.
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.
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.
Lenders to Kingfisher Airlines said they are yet to hear from the grounded airline even as the deadline set by the bankers to bring in fresh equity of $1 billion ended.
After declaring that it would do whatever it takes to cut flab, Kingfisher Airlines has now said it will not retrench cabin staff.
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.
This cashless transaction is a part of corporate debt restructuring agreed by banks and the airline company.
The company's board approved the airline's plan to raise the amount through issuance of equity shares or preference shares or through global depository receipts.
The airline has suspended all operations till Thursday.
Debt-ridden Kingfisher Airlines reported net loss of Rs 754 crore for the July-September quarter, a sharp increase from Rs 469 crore in the year-ago period.
Vijay Mallya-promoted Kingfisher Airlines has turned second time lucky; the state-run Bharat Petroleum Corporation (BPCL) has granted it a three-month reprieve to pay jet fuel dues. KFA owes BPCL Rs 220 crore (after adjustment of interest) for fuel dues.
A small aircraft of Kingfisher Airlines with 29 people on board a flight to Hyderabad was involved in an accident on the runway at the airport in Bengaluru on Thursday night shortly before take-off, leaving two passengers injured. All passengers of the IT 2427 flight were evacuated from the turbo-prop ATR plane, used for short-haul journey, whose nosewheel was damaged after it hit a dog that strayed into the area and the aircraft slid on the runway on its belly.
Earlier this year, Mallya's UB Group had acquired 26 per cent stake in low-cost carrier Deccan Aviation for Rs 550 crore (Rs 5.5 billion). The Group has now scaled up its stake in the budget airline to 46 per cent by buying shares in an open offer.
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.
Team Anna member Arvind Kejriwal was to fly to Dharamsala and reached the IGI airport in New Delhi in the afternoon and according to him, he cleared the security check and was waiting for boarding when he was told that his ticket was cancelled
He was employed by the same company of which a staffer, Rajasekharan Nair, was arrested and remanded on March 28 in connection with the detection of the crude bomb on Kingfisher flight.
The bomb, about the size of a cricket ball, was found during a security check of the cargo section of the ATR-72 aircraft after 27 passengers, coming from Bangalore, had deplaned, airport security sources said.
The calender aims to boost fashion and tourism in India.
Total income plummeted eight times to Rs 200 crore (Rs 2 billion) from Rs 1,552 crore (Rs 15.52 billion).
Hot models, celebrities and sunglasses -- here's a look at the launch of the Kingfisher Calendar 2010.
The 2005-operational airline that plied over 400 flights in November, cut it down to 180 flights a day by last month.
Banks stuck with miles purchased from Kingfisher Airlines, halt fresh buys
Bank chiefs have been quoted as saying that Kingfisher would need to arrange fresh equity of Rs 1,000-2,000 crore (Rs 10-20 billion) before seeking additional funds from the consortium of banks, led by the State Bank of India.
We recently offered a sneak peek into the latest Kingfisher Swimsuit Calendar 2012. Here's what happened behind the scenes!
We recently offered a sneak peek into the latest Kingfisher Swimsuit Calendar 2012. Here's what happened behind the scenes!
Nathalia Pinheiro won the Hunt for the Kingfisher Calendar Girl 2012 recently. Here's everything you want to know about her.
Airport operator GVK on Thursday said that as of now they had not put Kingfisher Airlines on cash-and-carry mode as the airline has paid some of its dues.
The government's stated position is that it cannot tailor a bailout package for Kingfisher Airlines alone.
The most glamorous swimsuit calendar is all set to be launched and here's what you can expect from it.
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