Bangalore: After a humble visit to Kukke Subrahmanya Temple to conduct a special worship recently and make views to redecorate the doors of God’s seat in golden sheets, UB boss Vijay Mallya is drawn back from a precipitous fall in his fortunes, to play a second innings.
His Kingfisher airlines, neck-deep in debts is ready to fly again with cheaper imported aviation fuel (20% less rate) directly from foreign countries.
The DGFT has agreed to allow him to import air fuel.
The Kingfisher airline is in poor state with a burden over Rs 6400 crores in different debt accounts. Pilots and employees had deserted the company in red. But there are fresh signs of improvement in prospects now, of the ambitious go-getter who is an Rs MP, and has many enterprises on hand.
The local private Oil Companies, free from Government control, have been fleecing private and public airlines, with higher petrol rates and Government taxes inclusive that they cannot bear, and several airlines are now ready to import cheaper aviation fuel.
The kingfisher airlines flights are likely to increase hereafter, thanks to God Subrahmanya in his mercy.