Bengaluru: Beleaguered liquor baron Vijay Mallya on Thursday said Kingfisher Airlines has turned out to be a 'nightmare' and blamed government's adverse taxation policies and higher fuel prices for the business failure.
"The business (of Kingfisher Airlines) failed due to high fuel prices, due to adverse government policies by taxation and of course the failure of aviation engines," he said in a video message to shareholders here at the 100th Annual General Meeting of United Breweries Holding (UBHL).
"What started as the genuine business failure of Kingfisher Airlines, which was once known as the queen of the skies with the best-ever service and connectivity that India has seen, has now turned out to be a nightmare," he added.
29/09/16 PTI/Business Standard
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"The business (of Kingfisher Airlines) failed due to high fuel prices, due to adverse government policies by taxation and of course the failure of aviation engines," he said in a video message to shareholders here at the 100th Annual General Meeting of United Breweries Holding (UBHL).
"What started as the genuine business failure of Kingfisher Airlines, which was once known as the queen of the skies with the best-ever service and connectivity that India has seen, has now turned out to be a nightmare," he added.
29/09/16 PTI/Business Standard
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