, pub-6370463716499017, DIRECT, f08c47fec0942fa0 AlfaBloggers Best Bloggers Team Of Asia : February 2013

Thursday 21 February 2013

Kingfisher Airlines Ltd moves SC on tax demand

The United Breweries Group, which controls debt-ridden Kingfisher Airlines Ltd, said on Thursday that it has approached the Supreme Court on the summons issued to the airline by the Special Court for Economic Offences earlier in the day.

The court had issued the summons to Kingfisher head Vijay Mallya on a complaint from the Income-Tax (I-T) Department on Tuesday that the company had not remitted Rs 74.94 crore which it deducted as tax deducted at source in 2009-10 from employee salaries. The I-T department also slapped on interest of Rs 23.70 crore on the airline for not meeting its deadline for payment.

A UB Group spokesman said in a statement late on Thursday that the I-T department’s demand of Rs 74.94 crore on salary TDS has already been paid by the company to the tax authorities. Following various appeals against the I-T department’s tax demand, the company has approached the Supreme Court by means of a special leave petition and the hearing on the same has been posted to March 8, 2013, the spokesman said.

“The (I-T) demand has in fact been set aside by the Income Tax Appellate Tribunal, Karnataka, and it is the company’s considered view that currently no demand exists,” he affirmed, adding that the case filed by the I-T department is “infructuous and needs to be withdrawn”.

The I-T Department had also complained that Kingfisher owes the government Rs 401 crore by way of TDS deducted from salaries of its employees and from payments made to others in the financial years 2008-2012.

Kingfisher, which has not flown a single flight since October 1 last year, currently carries debt of nearly Rs 8,000 crore and accumulated losses and liabilities of like amount on its wings. The airline was grounded after its pilots and engineers went on a strike over non-payment of salaries and is now under threat from lenders who plan to start recovering their dues.

Last week, UB said that it has not hypothecated or pledged the “Kingfisher” brand or shares in the company to any lender to secure its loans.

Kingfisher moves SC on tax demand
Deccan Herald
The court had issued the summons to Kingfisher head Vijay Mallya on a complaint from the Income-Tax (I-T) Department on Tuesday that the company had not remitted Rs 74.94 crore which it deducted as tax deducted at source in 2009-10 from employee ...
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Kingfisher Predicts Profit at Consensus After U.K. Sales Decline
Kingfisher Plc (KGF), Europe's largest home-improvement chain, said adjusted annual profit will match analysts' expectations after reporting a sales decline in France, its biggest market, that eased in the fourth quarter. Sales at French stores open at ...
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Kingfisher sees efficiencies helping meet forecasts
Reuters UK
LONDON (Reuters) - Kingfisher Plc (KGF.L), Europe's No. 1 home improvements retailer, is looking to further efficiency savings to offset a worse than expected sales fall and allow it to meet forecasts for yearly profit. The group, which runs market ...
See all stories on this topic »
Kingfisher Slips on Poor B&Q Sales
Motley Fool
LONDON -- Kingfisher (LSE: KGF ) this morning released a trading update for the fourth quarter, which saw the company suffer after a tough period. Although total sales for the 14 weeks to 2 February 2013 against the 13-week period last year were up 1.5 ...
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Smaller lenders set to recover dues from Kingfisher
Business Standard
The loans were for 'pre-delivery payment', meaning 10-15 per cent of the price of the aircraft was given by these banks to Kingfisher, to place the order. Airlines work on a model of sale and lease-back of planes, meaning, buy a plane, sell it ...
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Business Standard
B&Q Owner Kingfisher Hit By Consumer Weakness and UK's Bad Weather
Kingfisher, the home improvement retail group that owns B&Q, said it expects its full-year profit to meet expectations despite the difficult trading environment and a tough final quarter of 2012. Reporting the group's fourth quarter results, Kingfisher ...
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Kingfisher to meet profit forecasts though sales worsen
Daily News & Analysis
Kingfisher, Europe's biggest home improvements retailer, said it would meet year profit forecasts even though underlying sales declines in Britain worsened in its fourth quarter. The group, which runs market leader B&Q in Britain and trades as ...
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Daily News & Analysis
Special court issues summons to Vijay Mallya over Kingfisher tax dues
Times of India
BANGALORE: In fresh trouble for the head of crisis-ridden Kingfisher Airlines, Vijay Mallya, the special court for economic offences here has issued summons to him on an income tax department criminal case for not remitting to government the tax ...
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Times of India
Kingfisher endures 'tough' year
B&Q's owner Kingfisher said the UK and Ireland performance was offset by better trading at Screwfix, where sales rose 10.3% on a year ago due to new outlets and the roll-out of its "click, pay and collect" initiative. Kingfisher chief executive Ian ...
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Wednesday 20 February 2013

ICICI Bank discontinues Kingfisher co-branded credit card

Citi  Bank already discontinues Jet Airways co-branded Credit Card
'The ICICI Bank Kingfisher Airlines credit card will be valid till March 31, 2013'

Top private sector lender ICICI Bank has decided to discontinue its co-branded credit card with Kingfisher Airlines in the wake of continued grounding of the debt-laden air carrier.

“ICICI Bank and Kingfisher Airlines co-brand credit card programme has been discontinued due to discontinuation of Kingfisher Airlines services,” the bank said in a communication to its customers.

“As a result, the ICICI Bank Kingfisher Airlines credit card will be valid till March 31, 2013,” it said, while asking the card users to opt for another credit card from the bank.

The bank further said it will issue an ‘ICICI Bank Platinum Visa Credit Card’ to the users of ICICI-Kingfisher card without any annual fees from March 15 onwards with same interest rate and credit limit as that on the existing card.

The customers would, however, be free to opt for any other card available with the bank as per their requirements.

ICICI Bank used to be a major lender for the ailing airline, but later sold off its entire Kingfisher debt of Rs 430 crore loans to a debt fund managed by SREI Infra Finance in July 2012.

Engulfed in a major crisis involving huge debts of over Rs 7,500 crore and non-payment of staff salaries, Kingfisher Airlines had to ground its services last year and the carrier is still struggling to revive its operations.

The airline has never posted a full-year profit and it has accumulated losses of about Rs 8,000 crore.

A host of lenders, including public sector giant SBI, recently decided to start the process of recalling their loans to Kingfisher after months of discussions with the airline management for recovery of their debt and revival of the carrier’s flight operations failed to yield desired results.

ICICI Bank discontinues Kingfisher co-branded credit card
The Hindu
Top private sector lender ICICI Bank has decided to discontinue its co-branded credit card with Kingfisher Airlines in the wake of continued grounding of the debt-laden air carrier. “ICICI Bank and Kingfisher Airlines co-brand credit card programme has ...
See all stories on this topic »

The Hindu
Hidden message behind Jet fare cut: Kingfisher RIP
This week has brought several signals in the Indian aviation market, and all point to the same conclusion: there ain't no signs of a long-term revival in the industry, despite some recent profit reports. Yesterday, Firstpost reported the relaunch of ...
Kingfisher Airlines shares hit upper circuit in afternoon trade
Financial Express
Kingfisher Airlines shares today surged as much as five per cent to hit the upper circuit limit in afternoon trade on the bourses after the cash-strapped carrier started paying salaries to some of its employees. According to sources, Kingfisher ...
Queen Victoria exhibit is extended at Chisholm Trail Museum in Kingfisher
Museum director and curator Adam Lynn stands between a print from the 1800s of Queen Victoria and a display case with ceremonial robes belonging to the Burns family of Scotland on display at the Chisholm Trail Museum in Kingfisher. The exhibit has been ...

One of the Biggest reason for
Global Aviation Recession
Why some Airlines Owners Cheats ?
Mr Subrata Sahara,
Dr Vijay Mallya,
Gopal Goyal Kanda

Gopal Goyal Kanda  wanted Geetika back to exploit her
Delhi Police told a trial court that investigations showed that former Haryana minister Gopal Kanda tried to get back airhostess Geetika Sharma from Emirates Airlines with the ulterior motive of sexually exploiting her.

In a supplementary chargesheet submitted against Chanshivroop Singh, an aide of Kanda, before the court of additional chief metropolitan magistrate D K Jangala, police said "the facts emerged against Chanshivroop during further investigation. Kanda and (his aide Aruna) Chaddha tried to get back Geetika from Emirates Airlines with the ulterior motive of sexually exploiting her.

"When Geetika refused to come back to India and join MDLR Airlines (floated by Kanda), Kanda used other nefarious tactics to mount pressure on her", said the chargesheet filed on Tuesday.

"In pursuance of criminal conspiracy, Kanda and Chaddha appointed Chanshivroop Singh as assisstant HR manager in MDLR group with the sole objective of ensuring that Geetika remained under the control of Kanda," it said.

"Chanshivroop went to Dubai to compel Geetika to resign from Emirates Airlines and created fake e-mail ID for sending documents given by Kanda. Investigation discloses that accused Chanshivroop joined the conspiracy (hatched by co-accused Kanda and Aruna Chaddha) and committed offences under section 471 IPC (using forged documents as genuine) and 66A IT Act (sending false messages). It is requested that he be summoned to face the trial," the chargesheet said.

The chargesheet has been filed over three months after the main chargesheet was filed against Kanda and Aruna Chaddha in October 2012. The chargesheet said that at the instance of Kanda and Chaddha, Chanshivroop went to Dubai under the garb of investigating the issue of forged NoC furnished by Geetika to ensure she is removed from her job with Emirates Airlines.

Most of the Sahara Group properties that Sebi has ordered to be attached have already been pledged. Sebi may not be able to sell many of these properties to recover funds to repay bondholders as they have been pledged by the Sahara Group to raise funds.

The regulator had also ordered its promoters to restrain from disposing or in any manner encumbering their movable and immovable properties.

Sebi, however, has created more trouble for the Subrata Roy-led Sahara Group, which may find it difficult to do many of its businesses as it will not be able to use these attached properties.

"Sebi has attached properties based on our affidavit in Supreme Court dated January 4, 2012. Since then, a lot of things have changed. After the Supreme Court judgment in August 2012, we have redeemed most of the bondholders. I am aware a part of the money was raised by pledging these (attached) properties as securities with the banks and financial institutions," Sahara counsel Kishore Lahiri told TOI.

Sahara claims that most of the bondholders' money has been paid and it has deposited Rs 5,120 crore with Sebi , which is more than enough to pay the remaining bondholders.

"If that be the case (Sahara assets already being pledged) I doubt if Sebi will be able to recover the funds by attaching these properties as it would lead to further litigations. If there is a third party interest already created in these attached properties, Sebi just can't sell them to recover money," said another senior counsel, who is not involved in the case, on condition of anonymity.

However, Ashwin Mathew, consultant with Khaitan & Co, differs. "The regulators will have an upper hand on the attached property compared to the third parties, who are bound by agreements with Sahara. No doubt, it will lead to litigations and further complicate the matter but the creditors will have to recover their dues from Sahara firms."
Harish Salve, a senior Supreme Court counsel and former Solicitor General, told TOI, "It's not whether Sebi can recover or not recover the dues by attaching the Sahara properties. The exact values of these properties are not known. The Supreme Court has taken the matter very seriously and it's the liability of the Sahara firms to repay bondholders or they will be inviting serious problems."

But the Sahara counsel is livid. "I just can't understand how Sebi can do that (attach properties), when these properties do not belong to the two companies in question. You can't attach properties of promoters of company, which is limited by liability. The details of the assets were furnished for different reasons as the court wanted to know where the investors' funds have been invested," said Lahiri. Sahara senior counsel Ram Jethmalani, however, declined to comment as the matter was sub judice.

Two of India's most prominent businessmen-- Sahara Group chief Subrata Roy and Kingfisher Airlines owner Vijay Mallya-- are in for some troubled times.

SEBI today asked banks to freeze the assets and bank accounts of two Sahara group companies, saying they had failed to heed a Supreme Court order to repay investors in a case involving more than Rs 24,000 crore.

Meanwhile, Dr Vijay Mallya stands the risk of losing ownership of a range of possessions and assets including his Goa-located villa and the Kingfisher brand.

Taking stern action against Sahara in the high-profile investor refund case involving over Rs 24,000 crore, market regulator Sebi today ordered freezing of bank accounts and attachment of all properties of two group firms and top executives, including Subrata Roy.

Sebi’s action follows directions from the Supreme Court, which had said last week that the market regulator was free to freeze accounts and attach properties if Sahara group firms were not depositing the money with it for refund to investors.

Passing two separate orders against Sahara Housing Investment Corporation Ltd (SHICL) and Sahara India Real Estate Corporation Ltd (SIRECL), Sebi said that the two companies had raised Rs 6,380 crore and Rs 19,400 crore respectively from bondholders and “various illegalities” were committed in raising of these funds.

Sebi today ordered freezing of bank accounts and attachment of all properties of two group firms and top executives, including Subrata Roy.
The Supreme Court in August last year had asked Sahara group firms to refund the money with 15 per cent interest and had asked Sebi to facilitate the refund.

However, the group in December, 2012 was allowed to pay the money in three instalments, including an immediate payment of Rs 5,120 crore, followed by an installment of Rs 10,000 crore in the first week of January and remainder by the first week of February 2012.

In its orders passed today, Sebi said that neither of the two instalments was paid and therefore it is constrained to take necessary action as per the Supreme Court orders.

With regard to the payment of Rs 5,120 crore also, Saharas have claimed that only Rs 2620 crore remained to be refunded to investors and it has already paid Rs 19,400 crore to the bondholders.

The properties being attached by Sebi include the land owned by Sahara group firm Aamby Valley Ltd, which has set up a resort village near Pune, development rights of land at prime locations in Delhi, Gurgaon, Mumbai and various other places across the country.

Besides, Sebi has also ordered attachment of equity shares held in Aamby Valley Ltd, units of mutual funds, bank and demat accounts and investments in all the branches of all banks. Sebi has asked all the banks to transfer the amounts lying in those accounts to its Sebi-Sahara Refund Account.

With regard to Subrata Roy and three other directors, namely Vandana Bhargava, Ravi Shanker Dubey and Ashok Roy Choudhary, Sebi ordered freezing of all bank and demat accounts of these four persons, as also attachment of all moveable and immoveable properties in their name with immediate effect.

Sebi directed them to furnish details of all moveable and immoveable properties in their name within 21 days, pending which they can not alienate, dispose or encumber any of their assets.

The regulator said it is seeking attachment of all other movable and immoveable properties owned and/or held by the two companies SIRECL with immediate effect and asked them not to “alienate, dispose or in any manner encumber the same”.

Sebi also directed the two firms to furnish details of any other investments within 21 days and restrained them with immediate effect from operating their bank and demat accounts and from withdrawing of any investments.

The two companies have also been asked to deposit cash, bank balances and fixed deposits in their names to Sebi and have also been barred from transferring any shares held by them.

Sebi said it has informed RBI and Enforcement Directorate as well regarding its actions against Sahara group firms.

Sahara Airlines: Sahara Airlines The airlines was established on 20 September 1991 and began operations on 3 December 1993 with two Boeing 737-200 aircraft as Sahara Airlines. Initially services were primarily concentrated in the northern sectors of India, keeping Delhi as its base, and then operations were extended to cover all the country. Sahara Airlines was rebranded as Air Sahara on 2 October 2000, although Sahara Airlines remains the carrier's registered name. On 22 March 2004 it became an international carrier with the start of flights from Chennai to Colombo. It is part of the major Sahara India Pariwar business conglomerate. The uncertainty over the airline's fate has caused its share of the domestic Indian air transport market go down from approximately 12% in January 2006 to a reported 7% in January 2007.

Pre Acquisition Review: Pre Acquisition Review Jet Airways’ Scheme of things In 2003, Jet Airways had a 44% market share which reduced to 33% market share in 2006 due to competition by low cost airlines so Jet Airways wanted to maintain the leadership position in the industry To reduce the congestion time in Airports To enter into the low cost Airlines business in a big manner To avoid the delay to purchase new airlines which typically had a waiting time of 2-3 years. To diminish the number of aviation companies in the market, thereby achieving a pricing power in the market

Pre Acquisition Review: Pre Acquisition Review Air Sahara’s Scheme of things The mismanagement of the airlines was adding burden to the group. It was making losses It wanted to exit airlines business and focus more on its booming Real Estate Business Their was a huge liability both long term as well as short term and its aircrafts were also on lease or on loan. So, it wanted some quick money to pay off its mounting debts. Solution a merger with Jet Airways was an attractive and an easy bailout for Air Sahara from the aviation industry.

Screening Target: Screening Target Target Company: Air Sahara Strategic Fit Air Sahara as on 2006 has a market foothold of 12%, which will increase Jet’s market share to 45% if acquired. Air Sahara had a vast parking bays at important metros, which can be used by Jet to reduce congestion time and reduce fuel burning up to a large extent. Air Sahara was mostly servicing the domestic market (24 domestic and 4 international) and this will increase the domestic share of Jet Air Sahara had a fleet strength of 26 which if acquired will drastically increase Jet’s Fleet strength, without purchasing any new airplanes.

Screening Target: Screening Target Target Company: Air Sahara Operational Fit The load factor of Jet in its international flights was 73% and in domestic flights was 72%. Air Sahara had a load factor of 72% on domestic route and 65% in international flights. So, using the expertise of Jet, Air Sahara could gain. Sahara had 4 international destination, Jet Airways also had international flights to those destinations from the same source. So, efficiency and monopoly could be increased. Air Sahara had an identical fleet as the Jet’s consisting mostly of B737. Maintenance in case of merger would be easy and effective Analysts estimate that a cost saving of Rs. 150 crore -200 crore is achievable due to acquiring of parking bays

Target Valuation: Target Valuation Valuation of Air Sahara The entire business of Air Sahara was valued at Rs. 2300 by Jet Airways, whereas the valuations by E&Y for Air Sahara was done at Rs 3382 crores The valuation has been made on the comparable value with respect to the valuations of Jet Airways. Only the assets will be acquired, liabilities to be borne by Air Sahara itself Nikhil Garg from Edelweiss Capital said that if Jet Airways pays Rs. 2300 crore to Air Sahara, then Jet would be overpaying by 35%, as because the valuations of Jet dipped by 35% within months of deal talks

Slide 13: Target Acquisition Strategy Jet Airways had a debt equity ratio of 7:1 in 2005. It was already leveraged. It already had in mind an inorganic growth to capture its depleting market share It came up with an issue of equity on March, 2005, which was oversubscribed 16 times, thereby having a comfortable debt equity ratio of 1:1 post issue. The entire deal was done through debt, majority from IDFC, the company’s long standing banker.

Slide 16: New Acquisition: April 12, 2007 Air Sahara got a beating on its valuation, due to the failure of the deal, so it proposed new negotiations at revised valuations. Air Sahara’s market share dimished to 7% Valuations made are comparable with the Jet’s market valuation. As Jet’s valuation plummeted by around 35%, so the new valuation of Air Sahara was done at 35% lower valuation of Rs. 2300 crore i.e. Rs. 1450 crore . On the day of signing the bill, INR 400 crores exchanged hands with addition of Rs. 500 crore in the ESCROW account equals 900 crores upfront. The balance of INR 550 crores were payable in four interest free annual equal installments which was supposed to be ending in April, this yr. NPV= Rs. 1200 crores

Jet Lite: Jet Lite Sahara Airlines Limited became a 100% subsidiary of the Company. From 15th May, 2007 Sahara Airlines Limited has been renamed JetLite (India) Limited. Jet Airways on a whole now had 42% of the total Airlines Market.

Post Merger Integration: Post Merger Integration Moderate Integration Operational Integration- Stage I (FY 2007-08) Jet Airways and Air Sahara had an identical fleet consisting of B737. So, after the merger the Air Sahara planes were immediately brought into service. Only 20 of the 26 of Sahara are actually flying. So, Jet infused another Rs. 200 crore for refurbishing the entire fleet Bulky insurance policies were removed to short term cost efficient policies. Released premises and office spaces not required

Slide 19: Moderate Integration Operational Integration- Stage II (FY 2008-09) 2 CRJs were removed and ATRs were leased to reduce maintenance costs of a different aircraft. The ticketing costs were reduced for JetLite by moving to web platform Food and Cabin Amenities were reduced Loss making flights discontinued Business class services withdrawn

Monday 18 February 2013

All Airlines Owners are Not Cheaters

If some Airlines Owners Cheats you it dosen't mean all are
cheaters. Only few like Mr Subrata Sahara,
Dr Vijay Mallya, Mr Gopal Goyal Kanda cheated rest all might be good businessman. One of the Biggest reason for
Global Aviation Recession is few of defunc Airlines only.

Kingfisher Airlines Ltd.'s lenders plan to soon start a process to sell 5 billion rupees ($93 million) worth of shares deposited by parent UB Group as collateral against Loans.

Kingfisher Airlines Ltd.'s (532747.BY) lenders plan to soon start a process to sell 5 billion rupees ($93 million) worth of shares deposited by parent UB Group as collateral against loans.

In the first of several planned moves likely to cause severe financial strain across the UB conglomerate, the lenders will sell shares in group companies Mangalore Chemicals and Fertilizers Ltd. (530011.BY) and United Spirits Ltd. (532432.BY), said a senior State Bank of India (500112.BY) executive.

"Kingfisher had told us to wait as there was some money coming from the Diageo deal. That hasn't happened," Shyamal Acharya, deputy managing director at SBI, told The Wall Street Journal.
He was referring to a United Spirits plan to sell a 53.4% stake to British liquor company Diageo PLC (DGE.LN) for up to $2 billion. Part of the proceeds were expected to come to Kingfisher, but the deal hasn't come through yet.
Mr. Acharya separately said on television that a consortium of lenders to Kingfisher will try and recover some of the total 70 billion rupees of loans in the current quarter through March itself.
His comments come a day after the consortium decided to recall all loans to Kingfisher, which has been grounded since October.
The recall is a demand for immediate repayment, failing which the banks will take control of any assets deposited as collateral.
The consortium has appointed a core team of four banks -- SBI, IDBI Bank Ltd., Bank of India and Punjab National Bank -- to take the recall process ahead and deal with legal issues.
Mr. Acharya said that the major chunk of the collateral held by the consortium is in shares and in guarantees from group companies including United Breweries (Holdings), United Breweries and United Spirits. It also includes the Kingfisher brand, its office in Mumbai and a villa owned by the UB Group.
The total value of the collateral, excluding Kingfisher Airline's brand, is 65 billion rupees, Mr. Acharya said.
In the first response since news of the recall broke late Tuesday, a senior Kingfisher executive said the company is "aware of the situation and is doing what we can."
"Fifteen days earlier, I would have given a confident answer. Today I have none," he said when asked whether the airline has any chance of flying again.
Analysts said the recall will hurt investor sentiment for all UB Group companies.
A sale of stocks in Mangalore Chemicals and United Spirits will cause a "significant fall in share value, more so if they are sold in the open market," said Ambareesh Baliga, an independent investment consultant.
"While guarantees and other assets may take time and involve legal proceedings, banks don't need legal approval for selling shares," he added.
Kapil Kaul, South Asia chief executive at Sydney's CAPA-Centre for Aviation, warned that the process of selling assets could take a while. It will likely involve "a lot of haggling over asset value," which means that the banks may not be able to recover the full value of the loans.
Apart from the shares and guarantee, the UB Group also stands to lose the 10 billion rupees it has pumped into Kingfisher.
The airline, which has made losses since its inception in May 2005, now owes more than $2.5 billion to its lenders, suppliers, leasing companies, airport operators, other airlines, employees and to the government in taxes.
Kingfisher and most of India's other airlines have been hit by rising fuel prices, high interest rates and a slowdown in economic growth which has curbed demand for air travel.
Run by flamboyant liquor baron Vijay Mallya, Kingfisher began by expanding aggressively. But the plans backfired in the face of a slowdown in traffic during the 2008 global economic crisis.
On Oct. 1 2012, its employees went on strike because they hadn't been paid in months, forcing the airline to cancel all flights. The government later deactivated its license.
Kingfisher has been trying without success in the last few years to raise cash. It was recently in talks to sell a stake to Abu-Dhabi-based Etihad Airways, but lost the race to rival Jet Airways (India) Ltd., which is expected to soon announce its own stake sale to Etihad.
Reacting to news of the loan recall, shares of UB Group companies tanked Wednesday.

Thursday 7 February 2013

What are the requirements to become a Mystery Shopper?

We are searching for individuals who;

Are at least 20 years old;
Are objective in their observations;
Have an eye for detail when evaluating shops;
Are trustworthy in their deadlines and appointments;
Are motivated to perform mystery visits;
Like variation and a challenge in daily tasks;
Have a basic knowledge of the local language;(language depending on the office you want to work for)
Have basic computer skills and internet access;
Are reachable through telephone;
Are able to travel short distances

Tips for getting more offers

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We use your Google Analytics data to provide advertisers with accurate tools for segmentation.

Grammar check your posts.
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Wednesday 6 February 2013

I sweep the skies with Fire and Steel

I sweep the skies with  Fire and Steel
My highway is the cloud
I swoop, I soar, aloft I wheel
My engine laughing loud
I fight with gleaming blades the wind
...That dares dispute my path
I leave the howling storm behind
I ride upon it's wrath.

I laugh to see your tiny world
Your toys of ships, your cars
I rove an endless road unfurled
Where the mile stones are the stars
And far below, men wait and peer
For what my coming brings
I fill their quaking hearts with fear
For in my wings