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Vijay Mallya addresses media on Kingfisher Airlines revival plan

Kingfisher Airlines chairman Vijay Mallya addresses the media after a meeting with the board members to chalk a rescue plan for the airlines. He roots for FDI in the aviation sector, saying all airlines are facing losses, blaming the state govts for fuelling profits at the cost of aviation sector.

BT Online Bureau   Mumbai     Last Updated: December 2, 2011  | 16:07 IST

Kingfisher Airlines chairman Vijay Mallya on Tuesday addressed the media after a meeting with the board members to chalk a rescue plan for the airlines. The briefing is followed by a presentation by Kingfisher CEO Sanjay Aggarwal.

  • We haven't sacked people as we value our employees
  • Have asked banks to help increase our working capital
  • Looking out at all elements of costs; shutting down only unprofitable routes
  • Don't owe a single paisa to India Oil, Hindustan Petroleum. Have paid their dues in full
  • We have a genuine need for working capital increase
  • Have not asked govt for bailout; to use tax payers money to save our airline like Air India
  • Thanks PM for intervention that Kingfiher needs solution
  • Kingfisher doesn't owe anything to oil companies
  • FDI in aviation must be permitted
  • Have written to Ministry of Commerce to import fuel directly; save unnecessary fuel sales tax
  • Have no hesitation in saying that state govts are enjoying full profits at the cost of aviation industry
  • Have carefully analysed our strategy
  • There will be soon be a bloodbath in low-end aviation segment
  • Would like to focus on customers willing to pay extra for perks and frills. Competition is with only three full service carriers: Kingfisher looking to concentrate on the same 
  • Cancelling flights doesn't mean Kingfisher Airlines is shutting down: Mallya
  • Cancellation of flights blamed on wrong reasons
  • Reason for exiting low-end market with Kingfisher Red well validated
  • Decided to concentrate on the top-end of the aviation market
  • Can't afford to fly on unprofitable routes
  • Haven't dropped flights on routes where Kingfisher is the sole flier
  • We cancelled only 50 flights. Cancellation of commercial flights a prudent decision
  • Facts being misrepresented in the media

More details awaited

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