For Kingfisher Airlines, it just got a lot more tougher to restart services with news that the remaining aircraft in the Kingfisher fleet have been impounded by the Indian Service Tax Department. The impounding notice states the aircraft cannont be flown outsite the airports where they are parked since the grounding of the airline. This is due to a high service tax bill that … [Read more...]
Kingfisher Airlines licence suspended
In what should be no surprise to... well... anyone, Kingfisher Airlines has had its licence to operate suspended by the Indian Regulator - The Directorate General of Civil Aviation. DGCA has suspended the licence due to Kingfisher not producing a viable plan for its financial and operational revival- and to resolve the issues with over payment of employees. All bookings … [Read more...]
Kingfisher fleet to remain grounded to at least 20th October
Lets go back to the sorry saga of KingFisher Airlines, which now appears to be grounded to at least 20th October, with a promise of resumption of service on the 21st October 2012 During the weekend, the Kingfisher Airlines issued the following statement: "The company is continuing to work with, and appeal to, the employees striking to return to work so that the airline can … [Read more...]
Kingfisher Airlines grounded until 4th October at the earliest
Lets go back to our troubled friend in India - Kingfisher Airlines who seem to be back in trouble again. After pruning back their network, having their Oneworld membership suspended shortly before it was due to join, failing to pay staff and disagreements with the Indian Aviation authorities, Kingfisher is battling once again with its employees. The unreset from the … [Read more...]
Kingfisher to abandon LHR routes, Considering grounding Long Haul Fleet
It's time to look again at the ongoing comedy/tragedy that is Kingfisher Airlines. Due to costs and a lack of crew, long haul routes are being sliced up, with one of the A330's leased being retured to lessor, the London Heathrow service's is being cut from the 10th and 16th April from the look of the GDS's. In addition, there are more cuts internationally according to … [Read more...]
Kingfisher: Vijay Mallya – It’ll be fine… honest….
It's time to turn back to the soap opera that is Kingfisher Airlines, with Vijay Mallya telling employees on Monday that he hopes to conclude negotiations by next week with groups who could provide much-needed new funding the airline according to the Times of India Vijay also calls the attacks on the media "unscrupulous" and "sensationalist." Sorry Vijay, when I see a … [Read more...]
Kingfisher – Endgame?
As Live from a Lounge has covered, the good times of Kingfisher may be drawing to a close according to The Hindu Times. Kingfishers bank accounts are in a very precarious state - that of being frozen. Only 16 planes out of a 64 fleet strong aircraft are serviceable. It also seems the lack of pay has forced employees to jump ship with 35 commanders jumping to IndiGo and … [Read more...]
Kingfisher takes another loss
Well it seems KingFisher is really suffering with losses by increasing 75% during to October to December period, and it's raising new concerns about the carrier as an ongoing business. Kingfisher (which has never made a profit in its existence) has lost 4.44bn rupees ($90m; £57m) Oct-Dec 2011, compared with 2.54bn rupees in Oct-Dec 2010. Kingfisher states that the cost … [Read more...]
Kingfisher – a proposed rescue?
It seems the torrid time that Kingfisher Airlines is having is just getting worse. Kingfisher is considering proposals to cut it's debt pile by 50% - from $1.3 Billion. This involves: Selling off property Disposal of assets Modifying loans from the parent company (Kingfisher Group) Changing leasing terms on it's aircraft. Cutting non-income making routes and … [Read more...]
Kingfisher… floundering?
It seems that the airline Kingfisher is foundering. Quite badly. On Friday, Kingfisher cancelled more flights, and its shares sunk on it revealing it is almost $1.2billion in debt, and is trying to raise cash. The founder - Vijay Mallya - insists the airline will not close, but will rationalise itself and reconfigure itself. And that could be too little too late with … [Read more...]
