jeetcp
Mediocre me
It is never about courage. Politicians are waiting to get their pockets warm and do it under the table.
The Kingfisher Mess
- Thread starter Indizen
- Start date
MudgilSushil
DC Junkie ....
+ 1 and with mallya Himself being a MP in rajya sabha , he can very well affect the decision making process. Already govt is bailing out AI with Our 30,000 crores . they are just keeping it low profile and working silently. i am 100 % sure that govt will allow 49 % FDI and mallya will announce 49 % stake sale next day to a foreign airliner .
Source: Kingfisher crisis: How to kill an airline - Forbes India News - IBNLive
Kingfisher crisis: How to kill an airline
Kingfisher crisis: How to kill an airline
The fact is simply this. If Mallya pays all the dues he will be broke with no money because his dues are greater than his net worth. The entitlement society of India will never allow this to happen. As a result, people who worked hard for the airlines will not get paid. Indian society makes poor bear the burden of poor decision-making by the rich.
Mallya is what is wrong with Indian society. Foolish people become business men and take foolish decisions and society ends up paying for the foolish decisions of the rich! Until society makes people pay for their foolish decisions, India can never progress and remain a country run by fools.
Mallya is what is wrong with Indian society. Foolish people become business men and take foolish decisions and society ends up paying for the foolish decisions of the rich! Until society makes people pay for their foolish decisions, India can never progress and remain a country run by fools.
I totally agree with you, Big Daddy! 
Yogesh Sarkar
Administrator
I think the first question that needs to be asked is, does a company with less than 30 planes, actually need 4000+ employees?
I mean a huge hue and cry is made of Indian Airlines having too many employees, but isn’t this the case with Kingfisher as well?
And all this is when the wages are really high in the airline industry, even though everyone is running on a loss!
As far as recovering loans goes, it can’t be and will be done if the need be and the author of the above news article ought to have looked beyond the assets of Kingfisher for that!
As far as Kingfisher being a damp squid goes, ICICI recently sold off their entire Kingfisher debt to a financial company in India. Seriously doubt that a private player would have come out and bought the debt, if the writing was on the wall for all to see.
The way I see it, they will continue to linger on this way till government allows FDI and won’t really pay its employees, because they know that they will have to pay more if they fire them, rather than the employees leaving on their own.
I mean a huge hue and cry is made of Indian Airlines having too many employees, but isn’t this the case with Kingfisher as well?
And all this is when the wages are really high in the airline industry, even though everyone is running on a loss!
As far as recovering loans goes, it can’t be and will be done if the need be and the author of the above news article ought to have looked beyond the assets of Kingfisher for that!
As far as Kingfisher being a damp squid goes, ICICI recently sold off their entire Kingfisher debt to a financial company in India. Seriously doubt that a private player would have come out and bought the debt, if the writing was on the wall for all to see.
The way I see it, they will continue to linger on this way till government allows FDI and won’t really pay its employees, because they know that they will have to pay more if they fire them, rather than the employees leaving on their own.
It would need a global fool to put money into such a hopeless venture and with no controlling stake permitted!
I think Indian labor law has to be looked into and reformed if necessary so that business can hire and fire as per their bottom lines. I generally don't have problems with business mistakes because they are bound to happen as it happens a lot of times in USA (Lehmann, Madoff scam, Stanford scam, Man Financial etc.). What is lacking is in action by the government. It is government that makes sure that people get paid and guilty serve jail time. What Mallya was doing is similar to Madoff and Stanford, but Mallya is free whereas Madoff and Stanford are serving jail time.
FDI will not be as easy as it seems. Until Indian government gets its act straight in terms of justice and labor law (if there is a problem), the mess will continue and many indian families will continue to suffer.
Source: Banks beware! Mallya wants to recapitalise KFA yet again | Firstpost
Banks beware! Mallya wants to recapitalise KFA yet again
by Rajesh Pandathil Aug 8, 2012
Vijay Mallya is again talking of recapitalising Kingfisher Airline, and guess where the funds would come from: certainly not his personal assets or other businesses, but banks.
According to a report in the Times of India that quotes sources, he has told the aviation ministry that the airline will meet finance ministry officials to ask banks to provide more financial support, if FDI in Indian airlines is not forthcoming in the next two weeks.
If this is intended to be a blackmail of sorts, it holds no water as no international airline will be willing to be a partner to the deep troubles of Kingfisher.
Moreover, there are no chances of the FDI policy getting cleared in the near future.
And even if he approaches banks to get funding, it has to be seen how many of them will be ready to lend to the airline which has a debt of Rs 7,500 crore from state-run banks. It has to be remembered that Mallya’s earlier claims of nearing funding deals have fallen flat.
“Will recapitalise the airline, FDI or not FDI,” Vijay Mallya has been quoted as saying in the report, promising to give details at the “appropriate time”.
The recapitalisation promise comes at a time when the staff of the airline is on strike, threatening to cripple its operations again.
The report also gives details of his turnaround plan.
Just how much all these claims will turn into reality is something to be watched.
For now, it would be better if he gets some money to pay off his employees’ salaries, because their comfort level is important for passenger safety.
With the aviation ministry not planning a euthanasia for the sick airline, safety is solely the management’s responsibility.
Banks beware! Mallya wants to recapitalise KFA yet again
by Rajesh Pandathil Aug 8, 2012
Vijay Mallya is again talking of recapitalising Kingfisher Airline, and guess where the funds would come from: certainly not his personal assets or other businesses, but banks.
According to a report in the Times of India that quotes sources, he has told the aviation ministry that the airline will meet finance ministry officials to ask banks to provide more financial support, if FDI in Indian airlines is not forthcoming in the next two weeks.
If this is intended to be a blackmail of sorts, it holds no water as no international airline will be willing to be a partner to the deep troubles of Kingfisher.
Moreover, there are no chances of the FDI policy getting cleared in the near future.
And even if he approaches banks to get funding, it has to be seen how many of them will be ready to lend to the airline which has a debt of Rs 7,500 crore from state-run banks. It has to be remembered that Mallya’s earlier claims of nearing funding deals have fallen flat.
“Will recapitalise the airline, FDI or not FDI,” Vijay Mallya has been quoted as saying in the report, promising to give details at the “appropriate time”.
The recapitalisation promise comes at a time when the staff of the airline is on strike, threatening to cripple its operations again.
The report also gives details of his turnaround plan.
Just how much all these claims will turn into reality is something to be watched.
For now, it would be better if he gets some money to pay off his employees’ salaries, because their comfort level is important for passenger safety.
With the aviation ministry not planning a euthanasia for the sick airline, safety is solely the management’s responsibility.
