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Found 1 result

  1. Curious Case Of Kf Airlines

    csmart posted a topic in The Lounge

    I got an forward from one of my friends about a blog by Kaipullia Vetti on Kingfisher AIrlines. He has throughly analysed the how it has become a major scam in bailout. Vijay Mallya says that he does not want tax payer money. But already he has it in the form of loans and non payment to oil companies. Besides he gave his shares to bank at premium even though the airline was loss making. There are many issues like banks never had personal guarantee from company's director which is against law. Mallya gave guarantee in the year 2010 or so. For this, airline paid him Rs 100 crore (read this). Read the entire blog to understand how systematically he get rid of competition and then also could not make profit.
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