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Kingfisher Airlines must Fly back, But Will Kingfisher fly again?

Has the end-game begun for Kingfisher Airlines? After flapping its wings about and trying to stay airborne for the better part of the last two years, Kingfisher has finally run out of fuel and seems headed for a belly landing. The government has sent a notice to the airline asking why its flying licence should not be cancelled on grounds of safety. The airline needs urgent funds to pay up dues to banks, employees and the government and to cover at least a part of its accumulated losses estimated at Rs.7,200 crore. Yet, with banks refusing to touch the company with a bargepole — rightly so too — and Vijay Mallya unable to find a partner, Kingfisher appears headed for infamy as one more in a long list of badly-run free-market enterprises that bit the dust. Unless, of course, if Mr. Mallya brings in his own money, something that he has not shown any inclination to do until now. HUBRIS IN THE SKY The reasons for Kingfisher’s predicament are all well documented — over-ambition