Kingfisher Airlines, which has been grounded for almost a year for want of cash, is in talks with a foreign investor for a potential stake sale, Chairman Vijay Mallya said on Tuesday, without naming any investor. Mallya also said that KFA is ready to pay one month’s salary to the now grounded airline’s employees on “humanitarian grounds” “I expect this to take some form or shape in the next 90 days. That is my own estimate,” Mallya told reporters after the company’s annual shareholders meeting. Mallya has said several times in the past that the company was in talks with potential investors, but the plans have not materialised so far. Mallya also said that he plans on restarting the airline and has already send three revival proposals to the DGCA. However, the aviation regulator is yet to respond to the proposals. “We gather informally that they would like a full recapitalisation. In our current discussions with a potential investor, we are focussing on these things,” he added. The airline stopped flying on October 1 last year after employees struck work over not being paid salaries. On October 20, India’s airline regulator, the Directorate General of Civil Aviation, suspended its licence . On December 31, the regulator let the licence lapse after the airline failed to produce a convincing business plan to restart operations. Meanwhile, Kingfisher has requested UBHL board to continue funding the carrier. “UBHL has accepted this in light of the prospective investor. UBHL cannot use the funds it has currently for this purpose, because of the restraining order from the Karnataka High Court. We have in fact replied to the court asking for permission to use the funds and now it is in the hands of honourable court,” said Mallya Mallya also said that he has asked United Breweries Holding ( UBHL) for funds and the spirits major has agreed to pay one month’s salary to Kingfisher’s staff. Mallya also said that the consumer franchise for United Spirits Limited (USL) remains very strong, adding that the integration with Diageo will be done in phases. Vijay Mallya He expects revenues from Diageo to flow in from October. “The board will consider Anand Kripalu’s name for USL MD post,” he told shareholders at the USL annual general meeting (AGM). Reeling under tremendous debt-burden, Mallya, through United Breweries and other group companies, agreed in November to sell stake in United Spirits , India’s largest distiller, to Diageo. Mallya said Diageo will sell USL brands in emerging markets. Also, former Diageo CEO Paul Walsh has joined the USL board, while HDFC managing director Renu Sud Karnad has joined the USL board as a director. Speaking about the company’s sales, Mallya says USL has growth 20 percent in prestige and above liquor segment.
Kingfisher Airlines eyes foreign wings for take-off
Vijay Mallya, the chairman of grounded Kingfisher Airlines (KFA), is making a lastditch attempt to revive its fortunes and is in talks with a Saudi investor to bring in
Mallya hopes to revive Kingfisher Airlines soon
Beleaguered Kingfisher Airlines chairman Vijay Mallya is betting on reviving his defunct carrier in the next three months as talks were on for an equity stake sale
Kingfisher Airlines jumps on stake sale buzz
Kingfisher Airlines (KFA), the Mallya group company, jumped on Wednesday after media reports quoted that the group is in talks with a foreign investor for
Mallya revives hopes of Kingfisher Airlines flying again
domain-B
Kingfisher Airlines chairman Vijay Mallya on Tuesday revived talk of revival plans for the grounded airlines, saying it was in talks with a foreign investor for a ...
See all stories on this topic »
Kingfisher Airlines in talks with an investor: Vijay Mallya
Bangalore: Criris-hit Kingfisher Airlines is in talks with a foreign investor for ... Kingfisher Airlines has remained grounded for almost a year now under the burden ...
See all stories on this topic »
Kingfisher to pay one-month's salary on 'humanitarian grounds': Mallya
Kingfisher Airlines, which has been grounded for almost a year for want of cash, is in talks with a foreign investor for a potential stake sale, Chairman Vijay ...
See all stories on this topic »
On the ground, Kingfisher staff counts losses every day, employees
MUMBAI: How do you make a million dollars? Make a billion dollars and start an airline. That in some respects is the story of Kingfisher Airlines, started by the
Kingfisher dreams of flying again
The management of Kingfisher airlines is in talks with a foreign investor to buy a ... Kingfisher airlines chairman Vijay Mallya told reporters after the company's
MY BIZ: Vijay Mallya 'in talks with Saudi investor' over future of ...
Vijay Mallya, the chairman of grounded Kingfisher Airlines (KFA), is making a last-ditch attempt to revive its fortunes and is in talks with a Saudi investor to bring
Kingfisher in talks with foreign investor
Crisis-hit Kingfisher Airlines (KFA) is in talks with a foreign investor for potential ... Kingfisher Airlines has remained grounded for almost a year now under the
Books by AeroSoft
Books
P - Productivity S - Speed R - Relevancy
Price: $20.00 USD. Approx. 22,870 words. Language: English. Published on August 23, 2013. Category: Essay.
How to Take Off Your Professional Career from an Average to Exceptional with the Hidden PSR in You. A Book By working CEO and Manager with Day to day and live Examples How to Fight with Global Recession. By Shekhar Gupta Surbhi Maheshwari
Price: $20.00 USD. Approx. 22,870 words. Language: English. Published on August 23, 2013. Category: Essay.
How to Take Off Your Professional Career from an Average to Exceptional with the Hidden PSR in You. A Book By working CEO and Manager with Day to day and live Examples How to Fight with Global Recession. By Shekhar Gupta Surbhi Maheshwari
Published: Aug. 23, 2013
Words: 22,870 (approximate)
Language: English
ISBN: 9781301432448
Words: 22,870 (approximate)
Language: English
ISBN: 9781301432448
Be an Aviator Not a Pilot is a story of Pilots in Aviation who are unable to cope. This is not a book to teach you how to get into an Aviation School or even how to live like a Pilot. In fact, it describes how one can become a Successfull Aviator not just an Airplane Driver [ So called Pilot ] with very small changes in life. Also Why abroad trained Pilots are better Aviator and Why FAA, CASA, CAAP, CAA are better civil Aviation Authority then DGCA.
by
Shekhar Gupta
Ankisha Awasthi
Be An Aviator not A Pilot
Price: $1.99 USD. Approx. 4,750 words. Language: English. Published on July 24, 2013. Category: Fiction. As A Fact Out Of Every 1000 Pilots Only 1 Pilot Becomes An Airline Pilot, The Book Is All About Those 999 Pilots Only.
Price: $1.99 USD. Approx. 4,750 words. Language: English. Published on July 24, 2013. Category: Fiction. As A Fact Out Of Every 1000 Pilots Only 1 Pilot Becomes An Airline Pilot, The Book Is All About Those 999 Pilots Only.
Pilot’s Career Guide
Price: $20.00 USD. Approx. 25,040 words. Language: English. Published on July 13, 2013. Category: Nonfiction.
International Airline Pilot’s Career Guide Learn Step By Step How to Become an International Airlines Pilot By Shekhar Gupta And Niriha Khajanchi
Price: $20.00 USD. Approx. 25,040 words. Language: English. Published on July 13, 2013. Category: Nonfiction.
International Airline Pilot’s Career Guide Learn Step By Step How to Become an International Airlines Pilot By Shekhar Gupta And Niriha Khajanchi
Cabin Crew Career Guide
Published: Aug. 26, 2013
Words: 2,160 (approximate)
Language: English
ISBN: 9781301001965
No comments:
Post a Comment