Tag Archives: UB Group

Vijay Mallya shifts ownership of his Airbus A319 private jet VT-VJM away from Kingfisher Airlines

In what could be a move to protect his personal toys, UB Group has transferred the operational ownership of the ultra-luxurious Airbus A319-133ACJ (Airbus Corporate Jet) used by Kingfisher Airlines Chairman Vijay Mallya out of Kingfisher Airlines. In its previous avatar, VT-VJM used to sport a tail with the Kingfisher Airlines logo and used to operate with the radio call …

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Kingfisher Q1 FY2013 analysis – losses exceed three times the revenue. Is the end near?

Beleaguered full service carrier Kingfisher Airlines has served notice of its dire straits, by reporting a massive Rs. 963.3 Crore net pre-tax loss in the first quarter of fiscal year 2012~2013. Even as Kingfisher Airlines chairman Vijay Mallya wrote a controversial letter to Kingfisher鈥檚 employees asking them to work without pay for the next few months, it appears that Kingfisher …

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Employee Relations, Payment Defaults Hinder Kingfisher’s re-structuring

The damning evidence against Kingfisher continues to mount, as a new report from the UK High Court claims that the embattled airline owes $21.6 million (Rs. 109.06 Crore) to the Bank of Scotland for overdue lease payments on 10 ATR 72-500 aircraft. The action was brought by Bank of Scotland on behalf of a consortium of lenders against Kingfisher parent …

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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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