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By: - 15th October 2012 at 22:27 Permalink - Edited 1st January 1970 at 01:00
Kingfisher should have been forced into bankruptcy months ago by the Indian authorities! Instead they've left the carrier to rack up tens (possibly hundreds) of millions of dollars more debt, which will most likely be waivered after bankruptcy at the expense of the Indian tax payer.
The problem with India's airline industry is its 'anti-competitive' attitude. Take the A380, for example, it's banned from operating to India as the Indian authorities believe it would out-compete the Indian airlines' product!
Didn't anyone ever tell Ajit Singh (Indian civil aviation minister) that competition was good? Take away the competition and you find yourself stagnating.
I for one hope that we return the favour, and ban the Air India 787 from landing in our countries... We wouldn't want them out-competing our own airlines now, would we? :D
By: - 16th October 2012 at 09:03 Permalink - Edited 1st January 1970 at 01:00
Well, I'm wiser than when I got up this morning;) I never knew about the A380 ban in India. Smacks of the anti Concorde debacle in the US,bprior to the planes entry into service.
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By: KabirT - 15th October 2012 at 21:54
New Delhi/Hyderabad/Mumbai: Indicating that the government is thinking of how it would deal with a worst case scenario in the ongoing crisis at Kingfisher Airlines Ltd, civil aviation minister Ajit Singh said he has asked aviation regulator Directorate General of Civil Aviation (DGCA) to “look into the legal implications” of cancelling or suspending the airline’s flying licence.
Kingfisher, promoted by billionaire Vijay Mallya, is to submit its response to the regulator as to why its licence should not be cancelled by weekend. The airline has been grounded since early October.
Singh’s move to assess the legal implications of closure or suspension are understandable because the airline owes creditors, including some state-owned banks, a substantial sum. He said the assessment would offer some clarity on Mallya’s liability—depending on whether the airline shuts down on its own or the government cancels the licence.
http://www.livemint.com/Companies/NRuWqIX3ILYwJ9zsPDqj9I/Govt-seeks-legal-views-on-Kingfisher-licence.html