The Demise of Kingfisher Airlines: Who Killed Kingfisher ?
Everybody, most of my learned friends want Kingfisher Airlines founder Vijay Mallya arrested. They say he had fun at the cost of Public Money, he should be punished. They say he is a fraud, he lives a rich and Luxurious life, while not paying salaries to his staff and not paying his lenders and vendors.
Who killed #Kingfisher Airlines? Have you given a thought? As a citizen of India you should know. As an entrepreneur you should definitely know this. I am sharing below a sequence of media reports from the days of the fall of #Kingfisher Airlines began. I hope to construct the sequence right, so that you can understand how it was killed. and by whom.. A little, backdrop would be, if you recall, or perhaps can google to verify my statement, most Airlines across the world were doing bad those days. Many were in the verge of collapse.
You may note Jet Airways stocks had plunged around the same time in Jan 2012.
You May notice, #Kingfisher was doing better than Jet Airways.
Kingfisher desperately had to infuse funds and this was the best thing Vijay Mallya and his team could have done.
It was very well placed, but what went wrong?
It appeared to be a done deal, what went wrong?
Not just me, everybody seem to think / say so.. then..
It was obviously not similar thoughts towards Jet Airways.. then.. what went wrong?
Same SBI had hopes on #Kingfisher Airlines..
This is the beginning…
Government agency thinks contrary to Market and Banks… why?
#Kingfisher Airlines team does, what any serious enterprise does..
Why is #Kingfisher targeted, while all Indian Airlines were in similar situation then?
Why stop an Airlines from flying?
How will an enterprise pay salaries, when agency meant to support the player is keeping it away from raising funds..
Does this help you understand better, what happened?
Its important to understand the share holder details of Jet, particularly, foreign and Indian Share holders.
Please note Naresh Goyal is not an Indian National.
Note the percentage of General Public & Foreign promoters as share holders in Kingfisher
Note the general public in Jet Airways and also foreign promoters
Etihad was still interested in Kingfisher and not Jet Airways..
#Kingfisher tried things Legally, but what was at play??
Why every possible government machinery tried to scutle Kingfisher Airlines?
Is this the final nail..??
Etihad comes around and agrees to go with Jet Airways..
Anad Sharma was the Commerce Minister..
Then met Finance Minister..
Why, all this to help a company held by majority of foreign promoters?
Why was Indian Government stretching to do this for Jet Airways, while Squeezing Kingfisher Airlines?
This was perhaps the last nail but we know, what else is happening with the (Once) King of Good times..
Who killed Kingfisher Airlines? Who got Vijay Malaya to this state? Who were the beneficiaries? Can an Indian Entrepreneur dare to do things in his own Country again? Will Indian government support her/him, or lead to what happened to Kingfisher Airlines and Vijay Mallya?
I have never had Kingfisher Airlines or any of Vijay Mallya’s company shares. I have neither been his Associate nor employee. I am writing this to share with my learned friends, this is the truth I saw. I feel bad for Kingfisher Airlines and Vijay Mallya as an entrepreneur. I don’t want such a thing to happen to any entrepreneur.
Written by: Nanjunda Pratap Palecanda