Kingfisher has been a loss making entity, since the day Vijay Mallya announced its launch in 2003. To put it in perspective, all his competitors, including the much maligned national carrier, Air India, were actually making profits, till as late as 2005-06, while he sustained continuous losses. Undaunted, he attempted big capital spends. His was the first and only Indian carrier to order the mammoth Airbus A380!
In 2007, Vijay Mallya bought over the crisis-ridden, no-frills Air Deccan owned by Capt Gopinath. The merged group planned to save up to Rs 300 crore on costs with a combined fleet of 71 aircraft. Through a reverse merger, Kingfisher Airlines became Air Deccan and once the entire acquisition was completed with necessary approvals from the regulator SEBI, Mallya changed the airline’s name back to Kingfisher Airlines in 2008!
Four states – Assam, Kerala, Tamil Nadu and West Bengal - and the Union Territory of Pondicherry are going to the polls. With high stakes involved, political parties are engaged in expensive campaigns.
There is a sense of optimism over the several recent initiatives of the government to provide insurance cover to the vast masses. New India Assurance (NIA), the leader, is gearing up to offer these very many services...
Why does someone want to take the Panama route? You can incorporate a company in just 72-hours. Your identity and those of other shareholders and directors is kept a secret. Bearer shares are allowed. Share transfer is both easy and confidential. ...
If you have been one of those teeming millions taken for a ride by builders, here is some hope. The Real Estate Act, 2016 has been passed by the two houses of parliament and received presidential assent. ...
Will the recent floods in Chennai be a deciding factor in 2016 Assembly Elections?
IE, the business magazine from south was launched in 1968 and pioneered business journalism in south. Through the 45 years IE has been focusing on well-presented and well-researched articles. When giants in the industry stumbled to keep pace with the digital revolution, IE stayed affixed embracing technology.