Tag Archives: Kingfisher Airlines

Kingfisher Airlines blames crisis on income tax department for seizing its bank accounts

In a statement to clarifying the on-going crisis, Kingfisher Airlines has virtually blamed the Income Tax department of India for seizing the airline’s bank accounts. Since the airline has never made a profit since commencement, the airline would not be past due on income tax. What it could be past due on, is, Tax Deduction at Source (TDS). Tax Information …

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Kingfisher posts net loss of Rs. 444 Crore

Late yesterday, embittered Kingfisher Airlines released its quarterly results for Q# of FY 2012. The struggling carrier saw its net loss deepen to Rs. 444 Crore from Rs. 254 Crore in the same period last year. Revenues fell 5% to Rs. 1,547 Crore, while expenditures grew 4.8% to Rs. 1778.06 Crore. EBITDAR was Rs. 125 Crore, down from Rs. 284 …

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VIDEOS: A trip down memory lane: Kingfisher and Air Deccan

Given our recent shift in focus towards an analytical bent on Indian aviation (most of the guilt lies on my shoulders), there has been a dearth of some of the lighter content here at Bangalore Aviation. I think it also gets lost sometimes, just how much the both of us love flying and love this industry. Aviation is a mystical, …

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Podcast: Why was Kingfisher’s entry into oneworld delayed, and what next for the airline?

In this podcast Addison, Vinay and I discuss the events that caused oneworld to suspend Kingfisher Airline’s entry in to the alliance. As an update, the higher amount of deposit demanded by the IATA Clearing House (ICH) is $8 million i.e. a total of $11.5 million. Kingfisher is still paying in this money to ICH, but we understand that as …

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Financial troubles put Kingfisher Airline’s entry in to oneworld on indefinite hold

With just one week to go, Kingfisher Airline’s entry in to oneworld has been put on “indefinite hold”. An official statement released a few minutes ago, says India’s Kingfisher Airlines and oneworld® today agreed to put the airline’s entry into the alliance on hold to give it time to strengthen its financial position. Quoting oneworld CEO Bruce Ashby “These are …

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airberlin and NIKI to join oneworld alliance from 20 March

German carrier, airberlin will become a full member of the oneworld® alliance with effect from Tuesday 20 March 2012. Austrian airline NIKI, also a member of the airberlin group, will join oneworld at the same time as an affiliate member. airberlin received its green light to board oneworld after successfully completing a thorough review of its readiness conducted by British …

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Photos: Kingfisher Airline’s stripped and decaying Airbus A321s and A330

Some depressing photos to commence the week of three Kingfisher Airline’s Airbus aircraft VT-KFR, VT-KFW, and VT-VJO lying grounded, getting stripped of parts and engines, and slowly decaying at Indian airports, While one can understand the business strategy of Kingfisher of reducing costs and performing fire-fighting cost-cutting, it is depressing to see these beautiful aircraft being canibalised like this. Sources …

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FDI is not a panacea; but a step in the right direction

When new Indian civil aviation Minister Ajit Singh announced that the national government would soon begin the process of allowing 49% foreign direct investment (FDI) by international carriers into India’s airlines Tuesday, India’s flailing airline industry breathed a heavy sigh of relief. Following a 75 minute meeting with finance minister Pranab Mukherjee, Singh stated, “the question was to allow foreign …

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2011 Indian airline industry review – From cautious optimism to an uncertain future

In contrast to the positive note I ended my US airline review for 2011 on, the Indian industry most certainly had a bad year in 2011. The shine is certainly off the fast growing Indian market, and the cautious optimism noted at the end of 2010 has turned back into fear. Airlines and airports have continued to invest in their …

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Opinion: India’s airlines are safe to fly

Over the past week, a serious fight has erupted between India’s aviation regulator the Directorate General of Civil Aviation and the airlines, with a number of serious charges being espoused by the DGCA. In a bluntly worded financial audit that Bangalore Aviation (as well as most of the internet) has acquired, the DGCA lists out several “safety” violations that India’s …

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The financial mess that is Kingfisher (Guest Post at Cranky Flier)

Recently, Cranky Flier author Brett Snyder has begun publishing a series of guest posts as he and his wife are expecting their first child this week. I wrote a guest post for him on Kingfisher Airlines, and you can see the results below. Link to the post Could there ever be an airline as bad as Air India, who Cranky …

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Wall of shame: NDTV steals my picture of a crashed Kingfisher Airlines aircraft

Theft of intellectual property.NDTV has joined the my “wall of shame” by stealing my picture of a Kingfisher Airlines aircraft VT-KAC and displaying it on a story sourced from Agence France Presse (AFP) without taking my permission or even acknowledging my intellectual property rights. The NDTV web page in question is here. A screen shot is posted just in case …

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Kingfisher Airlines to join oneworld alliance on February 10, 2012

It is official. Barring any unforeseen circumstances, Kingfisher Airlines will become the first carrier from South Asia to become part of a global airline alliance when it joins oneworld® on Friday, February 10, 2012. The oneworld alliance consists of American Airlines, British Airways, Cathay Pacific Airways, Finnair, Iberia, Japan Airlines, LAN Airlines, Malév Hungarian Airlines, Qantas, Royal Jordanian, and S7 …

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The end of an era: Airbus officially removes Kingfisher A340-500s from its order book

A news report from the Dow Jones yesterday stated that Airbus had finally removed the Airbus A340-500 that were once ordered by Kingfisher. Airbus has officially taken (06-Dec-2011) Kingfisher Airlines’ two A340-500s off its order book. The carrier, as previously reported, was expected to cancel the two orders after Airbus announced last month it was abandoning production of the aircraft …

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Kingfisher operating payments at Mumbai International Airport are overdue

It appears that Kingfisher’s troubles may not yet be over. After the carrier flirted with financial disaster last month, a report from the Economic Times suggests that new trouble is on the horizon for India’s self professed “King of Good Times.” According to the report, Chatrapati Shivaji International Airport (CSIA) has sent notice to Kingfisher that it must pay the …

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Lessors start taking back aircraft from Kingfisher Airlines. New aircraft to join fleet airline says.

A little over a month ago, we opined that Kingfisher’s announced withdrawal from the low cost segment would most likely lead to an enforced fleet reduction at the beleagured carrier. It appears our fears are coming true, The airline announced that lessor AerCap Holdings N.V. of the Netherlands will be taking back possession of two aircraft. In a statement spokespersons …

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MAP: Kingfisher to drop service to 13 destinations, cut 20+ routes

Apparently the fallout from Kingfisher’s sudden cancellation of flights a couple of weeks ago has not yet ended. A report from airlineroute.net shows that Kingfisher may be cancelling a few additional domestic flights. The following destinations will be cancelled outright; some of these were not currently operated but rather placed into the GDS. Destinations are spread out across India, but …

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Podcast: The chaos in the Indian airline sector and suit by ATA to block US Ex-Im bank funding to Air India

India has the world’s fastest growing airline sector – yes faster than even the Gulf, much of whose traffic is again driven by India. Year on year growth is 17%. Despite this, in its 100th year, the civil aviation sector in India is in near total financial chaos. Air India is a political plaything that has no business being a …

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Will Kingfisher Airlines survive in the long run?

In the wake of Kingfisher’s unprecedented cancellations last week, we here at Bangalore Aviation wanted to take a look at some potential issues that haven’t been brought up regarding Kingfisher’s long term viability. In light of reports that Kingfisher is close to a US $370 million equity deal with a large private investor and banking consortium, it is helpful to …

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Strategic analysis of Kingfisher Airline’s Q2 FY12 results

Despite the extremely muted optimism of my co-author, Devesh Agarwal, Kingfisher’s results for the past quarter were on a number of levels, worse than those of Jet Airways. Given that Devesh has already provided a very succinct analysis of Kingfisher’s results, I will simply add in a few of my own thoughts focusing on past lesson and future strategy for …

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