The decline of Kingfisher has been a saga that has gone on for almost two years. The airline gave India the most luxurious flying experience with a five star rating. Since then the airline has undergone a slow death by a 1000 cuts: ts bank accounts were frozen by the tax authorities in late 2011 International routes were closed in April 2012 they lost One World membership one month before it was meant to assume it in 2012 their operating license was suspended in October 2012 the revocation of it’s international flying rights by the Indian…
Kingfisher
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Kingfisher finally klipped
I have been sadly waiting for this moment for some time. Kingfisher Airlines has had its scheduled Operator Permit suspended by India’s aviation regulator: The Directorate General of Civil Aviation (DGCA) The authority stated that Kingfisher Airlines had failed to come up with a viable plan for its financial and operational revival and had not resolved the impasse with employees over non payment of salaries. News Report here. (Photo from Reuters Media) The airline has been tasked on October 5 to show cause as to why licence should not be suspended on October 20. Kingfisher asked for more time yesterday and said…
Kingfisher D day closer?
In the airline world, Kingfisher Airlines faces a meeting with its bankers – 17 banks have over 70 billion rupees ($US 1.26 billion) in advances to the carrier. The carrier has not serviced this debt since January, 2012. Kingfisher airlines also has an accumulated loss of over Rs. 80 billion rupees ($US1.4 billion). Since its launch in May 2005, the airline has never made profit. It has not been paying salaries consistently for a year now. The result has been a series of rolling strikes by staff for payment of wages. Last week, the Centre for Asia Pacific Aviation (CAPA), said Kingfisher must…
Kingfisher- still flies!
Can you believe India’s Kingfisher airlines is still flying. The group has now slipped from the largest to sixth airline in India in terms of passengers. Last week, the Indian government announced the carrier owes $US 49m (£31m) in taxes. In addition, the carrier owes money to airports, lenders and its own staff. The airline shut down most international short-haul operations in February and and all international services ceased on 10 April. In March, its mooted membership of One World never happened and IATA (the International Air Transport Association) suspended Kingfisher’s usage of the inter-airline funds transfer system. Cancellations, delays and disruptions have been…
Kingfisher highlights Indian air woes
The Indian air market is estimated to be the ninth largest in the world but with the population size the country has, the Indian government believes it will become the world’s third largest market by 202o. 87 foreign and five Indian airlines fly to and from India to 40 countries. Approximately five million Indians fly every month domestically. Domestic traffic more than doubled between Jul-2006 and July 2011, with growth of 101%. One reason for the growth was the deregulation of Indian domestic aviation in 2003- 2004 followed by international deregulation in 2007-2008 Today, India’s airlines have some of the youngest fleets in the world…
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