Bussniess Letter

Bussniess Letter

I feel government should not bail out King Fisher. All that is happening due to mismanagement , tax payer's money should not be spent for such Organizations. He had no money to pay for petrol bills but had enough money for Formula F1 race, King Fisher Cals, and other spending. Such businessmen should be punished for mismanagement and fooling the Country.
Do not bail out Mr. Mallya, freeze his all property and pay off government money for petrol This will at least help oil companies to reduce some loss, which they are claiming.
Criminal action should be taken against this person Mr. Mallya

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Mallya, meanwhile, tweeted: “Every government has gone out of the way to support airlines and connectivity. In India airlines are overtaxed and overcharged. Wonder why?”
In another tweet, he posed: “Is it Kingfisher’s duty 2 fly on loss making routes when state governments tax heavily? Or should v be financially prudent n fly profitably”.
Kingfisher, which has been cancelling over 30 flights each day since Monday, had on Friday cancelled 40 services across its network.
DGCA, which issued a show-cause notice to Kingfisher in this regard, has also sent similar notices to IndiGo and SpiceJet and asked them to submit their cancellation details.
“When the schedule for winter was approved, it was with immediate effect. So we took a stock of the position and on that basis, we asked them to explain,” DGCA chief E. K. Bharat Bhushan said.
He also warned that if the airlines were found not operating the slots allotted to them, these will be given to others who are willing to operate “regardless of who it is”.
As its shares crashed to a record low amid continuing debt fears, beleaguered Kingfisher sought government’s intervention to help it restructure its finances.
Kingfisher is understood to have sought about Rs300 crore of funded limit and a similar amount to secure Letters of Credit as well as bank guarantees. Kingfisher is also believed to have sought soft payment...