So we were all wondering how bad things were at India's Kingfisher Airlines and here goes.The airline had a net loss of 16.09 billion rupees ($333.5 million) for the year ended 31 March, and carries 60 billion Indian rupees of debt, or around $1 billion, on its balance sheet. It plans to raise 5 billion Indian rupees by tapping India's equity market.
Chairman Vijay Mallya appears to be confident that the airline will do well in the future, but those are worrying figures. It certainly is symptomatic of the focus in India for the last few years, when the airlines went after market share and forgot about running a viable operation. Mallya refers to that in his interview.
Kingfisher's motto is to live the "Good Times", but these are anything but for the Indian airline industry.
on August 2, 2009 1:19 PM | Reply
Need to switch from Jet A fuel to bio-alcohol from their bottling plants to reduce .
Since they are unable to serve alcohol on Indian flights, maybe they can get a 6-pack delivery for each ticket to raise load factors. :-)
on August 2, 2009 4:21 PM | Reply
And drunk passengers to go along with it!
on August 3, 2009 11:09 AM | Reply
As long as the pilot ain't drunk, a stock of wrist strap-ons to tame any groping hands.
on August 3, 2009 5:54 PM | Reply
Wrist strap-ons? That just sounds so wrong mate...