Posted on April 18, 2017 at 6:38 PM
Vijay Malya’s Kingfisher Airlines
The business tycoon Vijay Malya owns Kingfisher Airlines. Kingfisher Airlines Limited was an airline group whose head office is situated in Andheri, Mumbai. It has the second largest share in India’s domestic air travel market until December 2011. Later, it has gone through financial crisis and the shares dropped to the lowest mark ever. It suffered a great deal and even shut down its operations for 20 odd days in 2012. In 2013, Indian government has withdrawn both domestic and international flight entitlements allocated to the airline.
Vijay Malya is the owner of Kingfisher Airlines, which ones is one of the biggest competitors for other airlines. After the financial status of Vijay Malya went for a toss, Airlines suffered the most. Because the bank accounts of the airline were struck by the Indian Income Tax Department, the airlines suffered a financial unrest. Meanwhile, Vijay Malya left the country and stayed in London up until now and the Indian government has just arrested him from there. He was arrested in London and will soon be heading to India. As per the latest reports, Vijay Malya, the loan defaulter he even got the bail as soon as he received arrest warrant.