Kingfisher, once known for its grandeur and luxury just dived into a crisis, rather a nose-dive we should say. And boy! Is it looking worse for the Mallya’s or what!!
Tax evasion of rupees 76 crore. Debt of rupees 7,057 crore.
And as if that wasn't enough, it has made a loss of rupees 6,000 crore. (It looks like people prefer going in for cheaper airlines rather than spending extra bucks to get served by the Kingfisher hostesses.!! )
Their bank accounts are frozen, and the Central Board of Excise and Customs (CBEC) has threatened to take them to court on charges of tax evasions!
They have also taken loans from the State Bank Of India, which they are unable to repay. ICICI has asked them for more securities. Its getting worse for the beer-makers.
They are operating fewer flights day by day. Maybe they were just good with beer and calendar!!
Now the Mallya’s can consider these options:
Their bank accounts are frozen, and the Central Board of Excise and Customs (CBEC) has threatened to take them to court on charges of tax evasions!
They have also taken loans from the State Bank Of India, which they are unable to repay. ICICI has asked them for more securities. Its getting worse for the beer-makers.
They are operating fewer flights day by day. Maybe they were just good with beer and calendar!!
Now the Mallya’s can consider these options:
1. Drastically reduce their operations and continue
as a low scale airlines
2.
Push for opening the frozen bank accounts.
3.
Rope in some foreign airlines for investment
4.
Rope in any private individual for investment
5.
Pray to god!
In short their "Good Times" are coming to an end..!!
The clothes of the Kingfisher Calender Girls would get scantier because of the ongoing crisis
This is a caricature i made on the current KFA situtation..!!
s
In short their "Good Times" are coming to an end..!!
The clothes of the Kingfisher Calender Girls would get scantier because of the ongoing crisis
This is a caricature i made on the current KFA situtation..!!
s
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