The airline is long gone, but it has left behind about 1.25 billion US dollars (INR 7,500 Crores) of debt on the books of various banks in India. While there were a lot of push and shove amongst various parties on the leased planes which Kingfisher Airlines used, now the focus has moved to getting whatever value left out of the remaining assets of the airline. One of the assets they’d offered, and the banks accepted as collateral without much due diligence was the brand “Fly Kingfisher”. Apparently, some audit firm valued the brand at INR 3,000 Crores (500 million US Dollars) and that was good enough reason to lend them that amount. Anyhow, as per today’s newspapers: SBICAP Trustee…
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Tag Archives for Kingfisher.
American Express withdraws the Kingfisher Credit Card!
With the airline no longer in existence, Amex finally pulled the plug on their co-branded credit card partnership with Kingfisher. All existing cardholders have been sent out individual letters (not emails, not announcements on the website…) about the decision of Amex to part ways with KFA. This could partly also be the influence of their recent partnership with Jet Airways for a credit card. Here are the key details of what will happen now on for the existing KFA credit card holders: Amex is replacing all the KFA cards with the Amex Platinum Travel card and all the card holders will receive the new card in their mail in a few days from now. Here are some details of the…
Kingfisher employees get their salaries and get back on the job!
I initially thought that Kingfisher was not going to get out of the latest mess they got themselves in, but looks like finally the airline owner Vijay Mallya is more than eager to get it back on track. He was initially missing in action, and got branded an absconder by the media because he just wouldn’t come back to India on the next day of the crisis brewing into a lockout and grounding of the airline. However, when they seriously promised the 7-months unpaid employees 3 months salary within a month, like most of India, I believed this to be a hogwash so that Mr. Mallya did not have to face an embarrassment at the Indian Grand Prix, the Indian…
So Long, Kingfisher!
I’ve got reader mail in the past few days about what was going to eventually happen to Kingfisher Airlines. I have to admit I’ve been very busy offline to respond, but like I wrote in my last post about this airline, their license was at stake a few days back. And now, it is finally over. Yesterday, the Indian aviation regulator DGCA, which had given Kingfisher Airlines 15 days to respond, finally went ahead and suspended the airlines’ aviation license. On October 5, Kingfisher Airlines received a notice from the regulator, with a 15-day timeline to respond. On October 19, Kingfisher responded back, asking for more time to respond to the notice. They had tried to convince the employees a…
Finally, Kingfisher’s license maybe at stake
Since the past ten months, Kingfisher Airlines has been in crisis mode and it has only grown worse over the months. Since the last weekend, there has been industrial action at the airline for the nth time, and the management grounded the shrunk fleet, first till October 4th and then till October 12th. All these days, it seemed the influential promoter was getting a free hand because of the political connections he had, and because the airline is too big to fail for all the banks who have doled out the debt to the airline in good times. At numerous times, the aviation ministry clarified, including earlier this week, that the airlines’ license is not at stake. However, there are…
Kingfisher Update [Updated!]: Expecting to fly in 5 days?
While Kingfisher Airlines does not have any cash left to pay employees as per media sources, it has extended its lockout till 7th October for the time being, which means it is not selling tickets till 7th October, and no flights will be operating till then as well. Like I mentioned yesterday, it however looks like this time it will take a lot longer to revive operations since the airline is now under regulatory pressure to review the situation, come back with a FIRM plan of action and pay salaries before it goes up in the air. However, as per Reuters, the airline is now making statements that about 100 employees have come back unconditionally to work, and they hope…
Kingfisher: its not over yet?
My previous coverage of the Kingfisher Airlines and disruptions Kingfisher Airlines could just have been that lucky child which has been pulling off a lucky streak for the longest time. I am sure you’ve already read quite a bit on its current disruption, where unpaid employees have caused industrial action, which has been quoted as a reason by the management to ground all flights till October 4. While they may have had their reasons to not pay salaries for 6 months, I still don’t appreciate the management calling their employees’ actions Illegal, while not commenting on their own where they have not paid salaries for half a year (See press release here) The airline management, which was holidaying away, was…
So whats up at Kingfisher Airlines?
It has been a while since Kingfisher Airlines came in the news, so I thought it was a good time to post an update. For most who remember, Kingfisher Airlines was in a state of implosion a few months back and I wrote about it. While I was sad to report that the international operations were shut down, I am glad I did not have to write a second part of the obituary about domestic operations shutting down. Over a period I have realised that Kingfisher Airlines, for the flashy branding I had in my head, has been lucky to have a passionate set of crew who has stuck with the airlines in the bad times. I also consider them lucky…
Guest Post: Bidding adieu to The King of Good Times on Kingfisher’s final Dubai flight
Kingfisher Airlines has received many a good word from their frequent flyers, and almost all of them feel sad that the airline is progressively going down. I invited Arun Rajagopal, a Kingfisher loyalist based in the UAE to write a trip report on Kingfisher’s final flight to Dubai when I heard the airline was shutting down international operations. Turning over the mike to him without further delay… I’m a loyal customer of India’s Kingfisher Airlines. I first flew Kingfisher in Jan 2011 but since then I have flown them 15 times. I fly them as much as possible. I often pay a premium to fly them even when I have cheaper or non-stop flights available. I even recommend it to…
moneylife: My column on the best use for Kingfisher miles
I recently wrote a column in moneylife on how to make use of the Kingfisher miles you have, which is now available on their website. Check out my column here! Do take note that things change with Kingfisher everyday, so ping me back if you need current information you may not see there! You can look up the previous columns here! Live From A Lounge is also present on Facebook, Twitter and available via RSS.
moneylife: My new column on tips for Kingfisher travellers
This week, I wrote some tips in moneylife for people who are booked to travel on Kingfisher Airlines amongst the current situation the airline is in. Check out my column here! Live From A Lounge is also present on Facebook, Twitter and available via RSS.
