Authors : Ashok Panigrahi, Ashok Panigrahi, Antra Sinha, Antra Sinha, Anshul Garg, Anshul Garg, Astha Mehta, Astha Mehta
DOI : 10.18231/j.jmra.2019.014
Volume : 6
Issue : 2
Year : 2019
Page No : 81-84
Kingfisher Airlines Ltd. was owned by biggest liquor tycoon of India with an ambition to become an industry leader. Growing share in aviation market, wide number of destinations and numerous awards, depicted a very attractive and innovative picture for the company. Kingfisher airlines achieved success in gaining customer satisfaction by offering great and comfortable flying experience to its passengers. However, in the Indian aviation sector, Kingfisher Airlines had a short but lasting impression.
By the end of 2011, Kingfisher Airlines suffered a huge financial crisis. Kingfisher Airlines, UB Holdings Ltd. was provided loan by many private and public sector banks in India, considering the reputation of its CMD. He was unable to repay loans to many public sector banks, however private banks recovered all loans.
This paper describes the downfall of Kingfisher Airlines and the study of financial condition of United Breweries Holdings. Here, we have tried to understand the business of Kingfisher Airlines and studied the role of banks in extending loans and recovery attempts. Moreover, we have attempted to emphasize the reasons behind the financial failure of the company from the point of view of mistakes in strategic decision making.
Keywords: Kingfisher airlines, Vijay Mallya, Aviation industry, Bankrupt.