Kingfisher Air Hostesses Join Air India

NEW DELHI: He may be old and completely broke, but still has a heart of gold. Air India's Maharaja is now playing Santa to Kingfisher's unpaid crew. On Christmas eve, 36 airhostesses from Mallya's beleaguered airline joined AI.

While timely payment of salaries has become a dream at both AI and Kingfisher Airlines, the crisis in Mallya's airline has suddenly made employees long for the safety of a sarkari job - even if it too happens to be a mostly unpaid one. Before airhostesses, Kingfisher had witnessed an exodus of pilots with nearly 140 leaving in past two to three months.

"We are facing a severe crew shortage because of which our flights keep getting delayed. There are times when pilots are in cockpit but the plane can't operate due to crew shortage.

We are looking out for airhostesses and have got many applications from those serving some other airlines. Some months back, we recruited people from other big airlines for our operation control room at Delhi's IGI Airport," said an AI official, adding the airline is not yet recruiting pilots though it's getting many applications from pilots working in other airlines.

To cut costs, Kingfisher started shutting crew bases in some cities. The airline did not comment on this story. Employees at both companies have become extremely uncertain over salary payment. Source: India Times [Kingfisher Airlines Booking]

Auditors paint a dire picture of Kingfisher, stock down 4%

Kingfisher Airlines has slid 4% on the Bombay Stock Exchange at Rs 24.55 following an audit firm BK Ramadhyani & Co raising doubts over the company’s ability to stay in business for long in the annual general report of the company.

Here are a few observations made by the audit firm
Kingfisher has defaulted repayment on loans taken from banks and institutions.
The airline has not deposited with the government money it collected from employees as tax deducted at source and provident fund contribution, painting a dire picture of the airline's finances.
Kingfisher's ability to remain a ‘going concern’ will depend on its promoters bringing in money into the company.

These observations have unsettled investors who are already wary of the stock as is evident from the heavy sell-off in the stock after the report being posted on the BSE. Kingfisher has underperformed the market in past one quarter, falling 37.38% as against 8.80% decline in the Sensex.

Alongside, even the sagging financials of the airline are a bigger concern for the airline which has never posted profits since its inception in 2005.This is why analysts remain cautious on the stock. Sunil Jain, vice president-equity research at Nirmal Bang believes one should stay away from Kingfisher shares considering the current financial status of the airline.

The airline’s debt currently stands at Rs 6,000 crore and it  posted higher Y-o-Y losses at Rs 263.54 crore from Rs 187.34 crore in the year-ago period owing to high fuel costs. Revenues moved up by around 19% to Rs 1881.64 crore.

Even as analysts remain doubtful on seeing the airline turn-around in the short term, the airline is looking at various ways to improve its balance sheet.

For instance, it re-structured its debt of around Rs 8000 crore to bring down its interest burden. Last month its board approved a rights issue of shares to raise up to Rs 20 billion, but the time frame is not yet decided by the airline.
Source: Moneycontrol

Kingfisher flight makes emergency landing in Delhi

A Kingfisher Airlines flight carrying 118 passengers on Saturday made an emergency landing at the Indira Gandhi International (IGI) airport in New Delhi - barely a few minutes after it took off for Mumbai.

"The commander got an alert from one of the systems on board. He decided to return to Delhi and get this (alert) checked," a Kingfisher Airlines official told IANS.

Flight IT 304 from Delhi to Mumbai took off around 9.00 a.m. but returned after a few minutes, the official said.

"The aircraft made a normal landing and taxied on its own to the parking bay," he added.

The airline company said all passengers on board who had to go through emergency landing protocol and subsequent evacuation procedures were safe and an alternate aircraft was arranged to ferry them to Mumbai.

"Within an hour, an alternate aircraft was arranged for the passengers. The flight was successfully operated," the official said.
Read more at: NDTV
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Kingfisher Airlines ties up with Marriott

MUMBAI: Kingfisher Airlines today announced an alliance with leading global luxe hotel chain Marriott International to offer members of its frequent flyer programme luxurious stay options across the world.

Under the agreement, the members of King Club, which is the frequent flyer programme of the airline, can earn up to four times more 'king miles' from June-September period and can stay at any of the 3,400 Marriott properties worldwide.

"With this association, we at King Club look forward to strengthening our relationship with our members and adding value to their journey by offering them rewards for booking their stay at Marriott," Kingfisher Holidays vice-president, guest loyalty, Anshu Sarin said in a statement here.
Source: Economic Times
Kingfisher Airlines Booking

Kingfisher beats deadline, clears MIAL dues

Mumbai: Vijay Mallya-owned Kingfisher Airlines has averted a major crisis by clearing airport charges dues with the Mumbai International Airport Ltd (MIAL). The airport operator had given the airline a deadline of 14 May to clear dues outstanding from last year December.

"We have received a cheque payment for Rs105.71 crore and with that the issues regarding payment default has been resolved. The airline can operate normally from our airport," Mumbai International Airport president Rajiv Jain said.

MIAL had threatened to put the Bangalore-based carrier on a cash-and-carry mode of operations if it failed to clear dues by 14 May.

Last year December Kingfisher had promised to clear dues by February, but the cheque issued by it bounced.

Kingfisher restructured Rs750 crore of its overall debt of Rs6,900 crore last November.

Currently in the sixth year of its operations, Kingfisher Airlines is yet to turn the corner. It is likely to post losses in the fourth quarter as well.

On 6 April a consortium of 13 banks, led by the State Bank and ICICI Bank, converted Kingfisher's Rs750 crore debt into 23.37 per cent equity, valuing the airline's share at Rs64.48. With this conversion of equity shares, the promoters holding in the airline has declined to 58.6% from 66.2%.

The carrier hopes to raise around $300 million from a global depositary receipts issue once market conditions stabilise and its share price regains some of its lost value.

Kingfisher Airlines to raise Rs 1351cr through GDR

Kingfisher Airlines touched an intraday high of Rs 41 and an intraday low of Rs 39.20. At 09:41 hrs the share was quoting at Rs 40.05, down Rs 1.65, or 3.96%.
Read more at - http://www.moneycontrol.com/news/buzzing-stocks/kingfisher-airlines-to-raise-rs-1351cr-through-gdr_529572.html

Kingfisher ATR had wiring problem: DGCA

BANGALORE: The 5 Star Airlines of India, which saw its Hyderabad-bound flight on Sunday being recalled to Bengaluru International Airport ( BIA) as a result of a technical snag, submitted its investigation report on the Directorate General of Civil Aviation (DGCA) on Monday.

"There was a problem with the bearings and wiring circuit. It was not a fire, but smoke emanated from 1 with the engines," stated the director general of civil aviation Bharat Bhushan, quoting the report. Kingfisher did not respond to TOI on queries on this issue.

The aircraft, ATR 72-500, heading from Bangalore to Hyderabad was forced back to Bangalore following passengers witnessed smoke, some stated fire, coming from its proper engine. All 27 passengers and Five crew members had been deplaned safely following being air borne for ten minutes.
Source: Times of India

5-Star Airline Experience with Kingfisher

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To know additional about the destinations covered, lengthy haul routes, short haul routes, airfare deals, rewards, and related paraphernalia, visit the official website from the airline. Hot deals are exhibited from the homepage for the advantage with the travel freaks. Kingfisher short haul routes are mostly domestic apart from some cities in South Asia, South East Asia and South West Asia. The fleet types utilized for these kinds of routes are the Airbus A320 family members aircraft; for Kingfisher domestic regional routes, a fleet of ATR 42s and ATR 72s is operated.

Kingfisher Flights concerning extended haul routes are centred on East Asia, South East Asia, and Europe. It was in September 2008 that Kingfisher Airlines launched its very first long haul destination to London. Implementation of plans of beginning new long haul flights to major cities in Africa, Asia, Europe, North The united states and Oceania is underway. A fleet with the Airbus A330-200 is operated for ones long haul Kingfisher flights; new aircrafts will likely be utilized for the new destinations to become covered.

To book your Kingfisher flights, you are able to either visit the airline's official site or a travel portal. Even of the wealth of facilities offered on board, flying by Fly Kingfisher suits the budget of all.