Kingfisher
No fuel for Kingfisher till payment made
For the first time, I think oil companies have realised what I have been saying for a long time, that is, Vijay Mallya of Kingfisher is taking everyone for a ride. Oil companies have threatened to stop fuel supply to Kingfisher Airlines from coming Wednesday if the airline does not clear its outstanding of Rs 158 crore which is overdue. While Jet has cleared its dues Kingfisher has not. I don’t think that Kingfisher should be allowed even one day grace. Oil companies should also charge Kingfisher interest for the number of days the payment is delayed. Even one day interest on Rs. 158 crores works our to nearly Rs. 8 lakhs at 18% interest.
Think before you leap to invest in Vijay Mallya companies
It seems Vijay Mallya (VM) has taken on huge debt to fulfill his expansion plans. His Rs. 6900 crore debt story is as follows:
Vijay Mallya should learn something from Amitabh Bachan
A journalist from a reputed business paper sent me an email asking how I arrived at Rs. 90 crores, the amount that Vijay Mallya saved in interest and the government lost in interest when it allowed Vijay Mallya to delay payments by six months.
Why is Vijay Mallya such a cry baby?
With Vijay Mallya it has become a habit to keep complaining and asking for some special treatment or the other. Lets see what all benefits he has been able to get because of his political connection and proximity to Minister Praful Patel.
Mr. Mallya needs a reality check
Mr. Mallya has said in an interview, “…. there is a limit to how much we can take off our clothes?” I am sure he is implying that he cannot bear the losses that his airline is incurring. First, I don’t think we asked Vijay Mallya to buy another airline, announce purchase of planes worth billions, buy stake in a aircraft manufacturing company, a cricket team and F1 team. So I don’t think Vijay Mallya should be complaining about his clothes. On the other hand, I think he wants to keep his clothes on by taking our (customer’s) clothes off. He has entered into an illegal cartel arrangement with Jet Airways so that he can fleece the customers. He has also taken advantage of delayed payments to Oil companies and airport authority which is like taking off the clothes of the tax payers indirectly. Inspite of taking the advantage of delayed oil payments and reduced ATF prices, he is still not reducing prices and at the same time he is firing his employees slowly and steadily.
Vijay Mallya – King of Unaffordable Goodtimes
Within a week of Jet and Kingfisher airline illegal alliance and firing drama, Jet and Kingfisher airlines get government’s help in geting better credit terms for purchase of fuel, more time to pay for their current outstanding with respect to fuel outstanding and also in the ATF prices which will now be revised every fortnight. Now let us look at what is wrong with this picture.
Jet-Kingfisher fiasco: What they said?
During the recent Jet-Kingfisher drama involving the illegal alliance, sacking of 1900 employees and then hiring them back, big time industrialists and ministers made statements. These statements were illogical and contradictory. Since our media is afraid to point out the discrepancies because of their vested interest, I would like point out the inconsistencies as I don’t want them to think that we are stupid. Lets analyze what each of them said.
Is Praful Patel working for Jet and Kingfisher?
Actions of our aviation minister suggests that he is working for Jet and Kingfisher. Lets look at the evidence.
Vijay Mallya needs to learn from SpiceJet and Paramount?
Lets consider the actions two small airlines Paramount and SpiceJet to see if there are any moral, ethical and management lessons that Vijay Mallya can learn from them.
Kingfisher Jet alliance – Prima facie a cartel
Thank God, some of the media people have woken up and are calling the Kingfisher Jet alliance a cartel. ET has stated in its editorial that the alliance “may be” anti-consumer. Why may be? Prima Facie, it is. Any agreement, whatever the terms, between the two will be anti-competitive and anti-consumer. This is against the MRTP Act. Whenever, two major competitors sit down on a table to work together to save money, that is, make more profits, you don’t have to be a rocket scientist to figure out that it is going to be against the law and the consumer is going to get screwed (to put it mildly).
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