Friday, March 2, 2012

Day 247

Yesterday, I wrote about the crisis with the Kingfisher airlines. Whatever I wrote yesterday was just the financial figures. There are many other things which are added the worry line to the management of Kingfisher airlines. The civil aviation ministry has directed Kingfisher airlines to operate with 28 flights out of 64 flights. Actually civil aviation ministry is aware that if it issues any fresh order for closure of Kingfisher airlines then it would lead the price skyrocketing. This is the situation which the government doesn’t want to happen. Like as I stated yesterday that one dozen pilots have resigned from the Kingfisher airlines. Others companies are ready to help Kingfisher airlines to take Kingfisher’s passengers in their airlines but not without cash. Kingfisher has to pay some amount of money to them before getting its passengers shifted to other airlines.
All these things combined together are making Kingfisher’s crisis more miserable. Income sources of Kingfisher are going down. Stock prices has gone down, government isn’t ready to bail out the cash strapped airlines, the primary  banker isn’t giving any fresh loan, other banks aren’t in mood to give any financial help until the airlines clears its previous dues. I think these problems are quiet enough for any entrepreneur to have sleepless nights and a long list of illness. But Vijay Mallya is fighting every stroke to keep his airlines high in the clouds. I think he must be praying everyday that the dark clouds over his airlines must get away very soon. 

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Day 433

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