New Delhi: The writing on the wall has been clear for Kingfisher for the last six months. But now it is stark: bring in Rs 1,000-1,500 crore immediately, or quit.
Kingfisher’s rivals are now wishing it dies quickly. While Jet Airways has opposed efforts by some travel portals to sell Kingfisher tickets under special fares, other airlines are secretly said to be lobbying the government to delay foreign investment in aviation so that Kingfisher can be driven out of the business quickly.
Which is why an immediate cash infusion is the only way for Kingfisher to survive. Without plonking $200-300 million (Rs 1,000-1,500 crore) on the table, the airline is likely to vanish into thin air. It is already struggling to pay tax dues and money owed to other stakeholders and is fielding innumerable queries on schedules and flight safety from the aviation regulator, the Directorate-General of Civil Aviation (DGCA).
26/03/12 Sindhu Bhattacharya/First Post
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