This fiscal year had bagged bad news to all the air passengers. First, flight cancellations due to the prevailing crisis at Kingfisher Airlines have caused a great inconvenience. Now, a recent survey said that high inflation and network disruptions would keep airfares high in the current quarter. The ‘American Express Business Travel Monitor’ which tracks […]
Today Civil Aviation Minister, Ajit Singh said to the journalists that, “Kingfisher Airlines is not going to get the bailout package right now. Kingfisher Airlines has presented their business plan to the nationalized banks and the banks will decide whether to issue loan to the Airlines.” The operations of the Kingfisher Airlines were disrupted today […]
Government is finally planning to allow major international airlines to invest in Indian carriers. It had made changes to many earlier rules to avoid foreign investment in Indian airlines. However, many foreign airlines are not ready to invest as the Indian aviation market is making a loss. When a few airlines like Qatar Airways and […]
The largest lenders of the country, SBI and ICICI Bank saw a downfall of their share value on predominant concerns about rising assets due to the exposure to airline companies. The chairman of SBI, Mr Pratip Chaudhuri, declared that Kingfisher Airlines, being the Non-performing asset to SBI, is in default. Kingfisher has been finding it […]
