Activists urge PM not to bailout Kingfisher Airlines using public funds
Moneylife Digital Team 28 February 2012

While there are moves to bailout the ailing airlines using public funds, Kingfisher is offering free wine club memberships and vouchers for premium members

Eminent social activists Aruna Roy and Nikhil Dey have written to the Prime Minister, expressing citizens’ concern about the bailout using public funds, and have questioned the logic of bailing out a private airlines while letting Air India, the national carrier languish.
 
“We urge you to ensure that taxpayers’ money is not spent to bail out Vijay Mallya’s Kingfisher Airline. We suggest the following as a possible solution to prevent more public money being pumped into Kingfisher and end the increasing harassment to the flying public. We demand that Mr Mallya be forced to bring in funds, that there must be a change in management at Kingfisher Airlines and that aviation policy must be re-examined,” says the letter.

If anyone wants to support their cause or offer suggestions, they can send their comments to the following address:
Aruna Roy, Nikhil Dey;
Mazdoor Kisan Shakti Sangathan(MKSS),
Village- Devdungri, Post-Barar, Dist-Rajsamand, Pin-313341.
Email: [email protected], [email protected]

Meanwhile Kingfisher, on the other hand, is busy offering free wine club memberships and gift vouchers to some premium club members, instead of clearing the overdue salaries of its airline staff.
 
Shortly after Dr Mallya issued a touching letter to Kingfisher Airlines employees, admitting that the matter of their overdue salary is of ‘personal sorrow’ to him, and promised that he is trying to arrange for funds. Kingfisher sent out mails to ‘King Club Members’ offering free memberships to ‘Wine Society of India’ and a voucher worth Rs2,000 redeemable within a week. On completing the sign up form today, the members will get ‘1,000 king miles free’ and ‘free wine course and tasting’.

Here is the letter sent by the activists to the Prime Minister...


 

Comments
Shibaji Dash
1 decade ago
The shares of the liquor companies- United Breweries and United Spirits- having been pledged/leveraged to boost the cash flow, a bail out of King Fisher Airlines by any one will effectually mean also bailing out the liquor companies. Prudence demands that the Group as a whole should be evaluated because the finance, management and control of all these companies are inextricably linked and can not be separated .
Shishir
1 decade ago
Yes, true. Public money should not be used to bail out a company. Why only private? tax payers' money should not be used to 'bail out' any government enterprise as well! It's not a good thing to see that 'Air India' a hugely mismanaged company gets tax payers' money, in rescue. After all 'Air India' does not give us 'free tickets' or do 'public service'!
narendra bagul
1 decade ago
Dear sir,
I fully appriciate the concern shown for spending our money to bail out kingfisher airlines. I am also of the opinion that our money should not be use for such things. Our problems are poverty and our money must be spent on iradication of it. And not for bail out

Narendra Bagul
LOURTHU MARY
1 decade ago
No compassionate ground help should be offered to to King fisher Airlines. Instead go for auction, bring in fund... There are thousands of poor youth educated are knocking the doors of banks for small fund like one or two lakh for which the banks have no compassion or listen to their projects. I completely agree with the move against King fisher.
chandra shekhar
1 decade ago
*For any Player in Airline-Industry, what needs to b re-looked is ... was there any unfair trade practice in awarding Licenses...?
*What is the point of going to the PM, does the Government lacks an efficient Administrator ...??
*Please recollect when "Jet-Air" was laying-off its Staff & Raj-Thakre had re-instated them back, how did they manage then, similarly there are SOLUTIONS, which needs to b worked-out & finally if Mallya Vijay gives-up than, allow TATA's to funtion, who had initiated initially & it was then, Deve-Gowda n Mulayam Yadav who roped-in Fresh-Face in "Airways", who had no-past experience & any track-record to show (correct me, if i m wrong) ...???
reg.,
Chandra
malq
1 decade ago
Every private airline, every private airport project, increasingly every private seaport, increasingly every private shipping company, increasingly every telecom company - and more - are now operating in India from behind what is being referred to as a "corporate veil". Kingfisher is one airline where we knew who was behind the corporate veil, that is also likely to change now as the current situation forces UB to accept loans from unknown entities.

THAT is the larger picture in India. WHO is now pulling the strings, who runs our economy and infrastructure, actually, and on whose behalf, please?

As far as the Kingfisher loans are concerned, it is also more important to nail down those responsible in governance and the banks and the oil companies and elsewhere, who brought things to this pass.

I support your move, and suggest that a larger move be made to pin down those responsible, since this is a bigger scam than 2G and CWG. It must also include the private airports and other aviation infrastructure issues, as well as an even bigger investigation into how and why the business of international air cargo to/from India, which in terms of value is higher than passenger aviation, has been almost totally lost to non-Indian operators.

Humbly submitted . . . VM
prabee
1 decade ago
There a good solution by Deepak in below article. He asks govt to let Kingfisher fail and bail out Public banks and let private banks handle them self by mergers or otherwise

http://capitalmind.in/2012/02/kingfisher...
Babubhai Vaghela Ahmedabad 9427608632
1 decade ago
Copy of Representation made by Shri Ashok Singh to Prime Minister seeking Permission to Prosecute Shri S Roy Choudhury CMD HPCL for Corruption in Kingfisher & other cases. http://goo.gl/g3kfS
Free Helpline
Legal Credit
Feedback