Aerospace Diary

Neelam Mathews Dec 12, 2012 Even as we posted a portion of the story released in an ME newspaper, we received a request from the corp com of UB group to post this letter of protest to the publication denying the quote attributed by the author of the piece.  A case of perhaps over-enthusiasm to see KFA flying again by the paper! As said earlier, Aerospace Diary could not confirm the news.  Though we do hear that due diligence by Etihad has been done thoroughly on Kingfisher. We are also hearing what a nightmare the airline will have in dealing with the cannabalized aircraft. For the sake of a gesture of fairness by our community, we thought it only fair that we publish the letter. Though we hope the publication that wrongly quoted him, will do too. A reminder to ourselves: Here goes the UB email to: The Correspondent Gulf News New Delhi, India Dear Ms. Madan: I am writing to protest a quote that has been wrongly and incorrectly attributed to me in...

Posted by Neelam Mathews Aug 11, 2012 Kingfisher Airlines says it continues to believe it will get recapitalized and get on a path of sustained profitability. It hasn't given up on financial investors to bring fresh capital.(!). Kingfisher says in Q1 FY13, it has halved its operating losses to Rs 204 crore from Rs 429 crore in Q1 FY12. This was achieved by reducing the level of operations in this high cost of environment through a 20 aircraft 'Holding Operation'. (It will be interesting to see the next Qr results).                                          The airline blames high expenses including ATF and "extraordinary expenses on account of return of aircraft to lessors' and non-operating aircraft-related costs that resulted in a loss after tax if Rs 851crore. The UB Group ha...