MALLYA BLAMES MEDIA FOR KFA FIASCO, INVESTORS ON-BOARD SOON
Date : 27.02.12
Vijay Mallya, the owner of Kingfisher Airlines told his employees that 'paid media' is responsible for the downfall of his company but nevertheless he is trying his best to revive the airline.
In an internal written communication, Mallya told his employees to have patience and also assured then that he has organised funds to pay for employees pending salaries.
He is also reported to have saying that two foreign airlines are ready to invest in KFA as soon as a change in the law was announced. The change would allow overseas airlines to own up to 49% of an Indian carrier for the first time.
The airline, which has never posted losses since its inception has been lobbying with the government to allow foreign airlines to invest in Indian aviation companies. Currently, foreign investment upto 49% is allowed in airport related projects.
Even a year back, there were reports that Mallya is in talks with foreign carriers for a possible equity stake sale, but due to unfavourable laws, there was no development on this front, said media reports.
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By
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