KFA faced stiff competition, and its dream of making a fast buck lay shattered. KFA’s service deteriorated over time, and its customer shifted loyalties to better airlines. The downfall of KFA from being one of the best airlines in India is due to the lack of effective decision made by the team.
What led to the failure of Kingfisher Airlines?
“The business (of Kingfisher Airlines) failed due to high fuel prices, due to adverse government policies by taxation and of course the failure of aviation engines,” he said in a video message to shareholders here at the 100th Annual General Meeting of United Breweries Holding Limited (UBHL).
What happened to Kingfisher Airlines employees?
While banks grapple with Vijay Mallya in court, over 3000 employees of his defunct carrier Kingfisher Airlines still haven’t got their salaries. The salary arrears, mounting since 2012, work out to more than Rs 300 crore. Many of these employees, especially ground staff, technicians and engineers, are still unemployed.
Why was Kingfisher Airlines license Cancelled?
NEW DELHI: Aviation regulator DGCA today suspended the flying licence of beleaguered Kingfisher Airlines for failing to come up with a viable plan for its financial and operational revival and resolve the impasse with its employees over payment of their salary dues.
Why did Kingfisher fail in India?
The airline had shut down its operations when on 20 October 2012 the DGCA suspended its flying license. This suspension had been due to failure to give an effective response to the show-cause notice issued by DGCA. Kingfisher would have been the first Indian carrier to join one of the big airline alliances.
Did the Kingfisher employees get paid?
MUMBAI: While banks grapple with Vijay Mallya in court and outside to get their money back, over 3000 employees of his defunct carrier Kingfisher Airlines still haven’t got their salaries.
Who purchased Kingfisher Airlines?
Kingfisher House, the erstwhile headquarters of the now-defunct Kingfisher Airlines Ltd in Mumbai, which was founded by fugitive businessman Vijay Mallya, has been sold to Hyderabad-based Saturn Realters at Rs 52.25 crore — about one-third of its reserve price of Rs 135 crore.
What is Vijay Mallya net worth?
Today, Mallya owns a measly 62,550 shares in the company in his personal name which at today’s price are worth 41.47 million rupees, less than $1 million.