An interesting article…
How has it got so bad for them and what does this do for their entry into the OneWorld alliance; I thought that India was suppose to be a booming market…?
By: Bmused55 - 21st March 2012 at 10:33
Poorly run outfit with eyes bigger than it’s pockets.
They wanted to go from a small ATR fleet to a super large “Emirates-like” carrier in one step.
The moment they ordered the A340s and A380s I knew they were a joke outfit doomed to fail. (Nothing against the aircraft so don’t start!)
I’ve said it all along.
In situations like this, with peoples jobs going down the drain, I hate being right.
By: cloud_9 - 21st March 2012 at 10:14
All international flights suspended…
It has been confirmed today that all international flights, including those to London Heathrow, are going to be dropped…
From TravelMole.com
21 March 2012
Debt-laden airline suspends all international flights
Indian airline Kingfisher will drop its services between the UK and India on April 10, it confirmed yesterday.
The cash-strapped carrier announced it was suspending all international operations to eight overseas cities – including London Heathrow – and reducing its domestic flights to give it time to come up with a rescue plan.
Following a meeting with owner, liquor billionaire Vijay Mallya yesterday, India’s aviation authorities decided not to suspend the airline’s licence but they say they are monitoring the situation. Kingfisher is believed to have run up a debt of £900m and it has been struggling to keep flying since banks refused to lend it more cash.
Kingfisher will reduce its domestic operation to no more than 125 flights a day, which is less than half the number it had October, but Mallya admitted this was no more than a “a holding plan”.
“The problem is in the last two to three months, he’s given so many plans and he’s not adhered to any of them,” India’s aviation minister Ajit Singh told reporters in New Delhi yesterday.
Kingfisher shares fell 5.5% on the news to their lowest level since it began trading.
By Linsey McNeill
Source:http://www.travelmole.com/news_feature.php?m_id=_rnms~s~T_&w_id=7669&news_id=2000810
Am not at all surprised by this decision to be honest, with the amount of competition from 9W, AI, BA & VS all flying out of LHR, IT were very much a little fish in a huge pond!
This decision not only has consequences for them though…the company I work for are/were the appointed ground handlers for IT flights @ LHR!:(
By: MSR777 - 23rd February 2012 at 08:53
Always a shame to see any airline fail, especially when reckless and inept management decisions lead to hard working, dedicated staff losing their livelyhoods.
By: AutoStick - 22nd February 2012 at 19:29
Running before being able to walk again !!!!
By: Bmused55 - 22nd February 2012 at 19:23
Too many big boys toys orders, not enough essence in the airline to fill their aircraft.
They ordered every shiney thing Airbus dangled in front of them.
The A345 order was laughable, the A380 insane.
They tried to go from regional turboprop to biggest airline in India with one step.
Fail
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February 22, 2012 at 7:09 pm