Allow Kingfisher to fly into the sunset

It is becoming increasingly clear that Kingfisher Airlines is well beyond rescue and only a miracle can save it. That miracle can come in either of two ways, or maybe even both.
First, Vijay Mallya, the high-flying promoter of the airline agrees to put his money where his mouth is. Let's be clear on this. He needs to infuse nothing less than a few thousand crore into the company to make it stand again, or shall we say, keep it flying.
Or second, Kingfisher is able to attract an investor — domestic or foreign, airline or non-airline — with deep pockets and strong guts to take on the balance-sheet of a company splattered in red all over, and that is not a reference to the airline's official colour or its name.
The odds on either of these happening are long. Savvy Mallya would be loathe to push good money after bad. Indeed, he has reportedly refused to give a personal guarantee sought by banks to refinance the company.
27/02/12 Raghuvir Srinivasan/The Hindu

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Categories: Kingfisher Feb 2012