Tuesday , 4 October 2022

Tag Archives: State Bank of India

After stalling for two months, Goyal step down from Jet Airways board

Jet Airways' Boeing 737-800 VT-JBD

Over 2.5 months ago, on CNBC, I said Mr. Naresh Goyal must decide, whether Jet Airways lives without him or dies with him. After stalling all this time, and taking the airline to the brink of closure, he appears to have realised he has finally run out of options. In a filing with the stock exchange, the company announced Mr. …

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Air India and State Bank of India launch co branded credit cards

By BA Staff Air India and State Bank of India (SBI) have launched two co-branded credit cards. An Air India SBI Signature Visa card, and an Air India SBI Platinum Visa card. Highlights of the Air India SBI Signature Card 4 points for every Rs 100 spent 20 reward points for every Rs. 100 spent on Air India website and …

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Opinion: Why are tax-payer funded banks going easy on Kingfisher Airlines loans recovery?

by Devesh Agarwal The consortium of banks which lent vast sums of money to Vijay Mallya promoted Kingfisher Airlines seem to be making a mockery and charade of recovering almost Rs. 7,000 Crore worth of loans from the airline and its guarantors. The question is why? As per a Mint report, SBI, the leader of the creditors’ consortium, has the …

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DGCA made a bad financial decision in shutting down Kingfisher Airlines

Earlier this month, now shutdown Kingfisher Airlines, once India’s largest private domestic carrier, reported a huge net pre-tax loss of Rs. 1115.5 Crore for the second quarter of Fiscal Year 2012-13. The performance was by far and away the poorest quarterly financial performance out of any Indian airline in the last few years, though that is to be expected given …

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Opinion: Kingfisher Airlines’ license suspension actually helps Vijay Mallya

On Saturday India’s civil aviation minister Ajit Singh, announced that aviation regulator, the DGCA had suspended the operating permit of Kingfisher Airlines, after the carrier failed to respond to their show-cause notice. With mountains of unpaid debts, the airline has been on life-support for some time now. Unpaid employees have been striking since October 1, resulting in a suspension of …

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Kingfisher Airlines: Diverting the media’s attention away from things that matter

For the last week or so we are overloaded with the media’s fascination about the financial troubles at Kingfisher Airlines and its flamboyant Chairman Dr. Vijay Mallya, and his less than flamboyant, and far less street smart son Sidhartha. Like the famous wild dogs of Africa, which hunts in packs, the media had descended en mass on the sorrowful suicide …

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Opinion: A date of ignominy in the Kingfisher Airline calendar

2010 Kingfisher Calendar. Copyright KingfisherWorld Kingfisher is known for its super-sexy swimsuit calendar, featuring some of the most beautiful women in the world, and Kingfisher Airline’s Chairman Dr. Vijay Mallya’s son, Sidhartha, may love cavorting on the beach with them, but yesterday, October 4, 2012, witnessed a tragedy, and was, to borrow the words of FDR, a date that will …

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Survey: The Kingfisher Airlines drama continues. Is the airline ready for euthanasia?

Employees of Kingfisher Airlines have finally reached a breaking point. The airline, blaming the employees has declared a lockout Kingfisher Airlines Limited today announced that following a series of protracted and unabated incidents of violence, criminal intimidation, assault, wrongful restraint and other illegal acts including refraining from attending work, by a small section of recalcitrant employees which were all unnecessary …

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Income tax department re-freezes Kingfisher Airline’s bank accounts

The income tax department has frozen two of Kingfisher Airline’s bank accounts for alleged non-payment of dues. However the airline has clarified in a statement The IT department attached two of our bank accounts on May 24th which was not in accordance with the speaking order of the Hon’ble IT Appelate tribunal during the hearing. Subsequently, in a written order …

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Kingfisher Airlines repeats fund raising plans – a move to ease market concerns?

Dr. Vijay Mallya promoted Kingfisher Airlines released this statement today. The conversion between Indian Rupees and US Dollar at a rate of Rs.47:$1 has been added by us in italics. The Board of Kingfisher Airlines Limited, at its meeting held today, approved, subject to shareholders approval, an increase in the authorised Equity Share Capital from Rs. 900 crores [approx $192 …

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