Kingfisher Airlines Without Office in Mumbai Airport, will it remain an Airline ?

What will happen to an Indian airline if it has no office in one of the busiest airports in the country? It probably will become almost non-existent.  Kingfisher Airlines Without Office in Mumbai Airport, will it remain an Airline ?

For Kingfisher Airlines, however, it is a little bit different because it is already non-existent for consumers since it is not operating any flights now. But such a predicament is sure to jeopardise its attempts to get back on its feet.

The airline, which has not paid dues for over a year now, owes Rs 22 crore to the airport, the report said quoting sources. AFP
According to a report in the Economic Times, Mumbai International Airport is considering slapping an eviction notice on the airline to forcibly vacate it from the 19,000 sq ft space it occupies in the airport’s Terminal IA.

Interestingly, a senior Kingfisher official has told the newspaper that the company is actually surrendering 15,000 sq ft as it is not operating any flight for the time being and as it is unlikely to operate the full schedule in the near term.

The airline, which has not paid dues for over a year now, owes Rs 22 crore to the airport, the report said quoting sources.

Kingfisher had made peace with its agitating staff earlier last month but is yet to resume its operations.

Kingfisher has more than Rs 7,000 crore debt and bankers have said that they will take a decision on giving further funds to the cash-starved airline only after Mallya infuses capital.

A PTI report had said last week that bankers were still waiting for a revival plan from Mallya.
However, banks have not yet taken any steps towards debt recovery.

The airlines’ revival is getting delayed inordinately as there are a lot of issues the company needs to sort out before it starts operations.

An earlier report in The Economic Times had said airline officials have not been able to sort out scores of regulatory issues that are imperative for it to resume operations.

A PTI report said the staff had also threatened to approach regulator DGCA if they were not paid the May salary on Friday.

Firstpost

Kingfisher Airlines Sent Eviction Notice by Mumbai International Airport Pvt Ltd

Kingfisher Airlines that had its operations from domestic Terminal 1A of Mumbai's airport was given an eviction notice by the Mumbai International Airport Pvt Ltd (MIAL) in the last week of November 2012. Kingfisher owes 22 crore Rupees to airport ...
See all stories on this topic »Kingfisher museum to recognize Pearl Harbor attack anniversary
Enid News & Eagle
The “Day of Infamy” is recognizable to many Oklahomans with memory of World War II, and Chisholm Trail Museum in Kingfisher will feature an exhibit on Friday recognizing the 71st anniversary of the attack on Pearl Harbor. Museum Director Adam Lynn said ...
See all stories on this topic »Kingfisher-Blanchard set for Friday kickoff

Kingfisher will be making its third trek to OSU's football palace in the past four years Friday night when the No. 1-ranked Yellowjackets face Blanchard for the Class 3A state championship. Kickoff will be at 7:30 p.m., the Oklahoma Secondary School ...
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Kingfisher may lose Mumbai airport office, stock down 3% Shares of Kingfisher Airlines are down 3% on media reports that Mumbai International Airport Limited (MIAL) is contemplating an eviction notice directing the airline to vacate the space occupied by it at Terminal IA at the Mumbai Airport. Source ... See all stories on this topic »

Moneycontrol.com

Tax authorities may move SC to recover dues from Kingfisher

The Central Board of Excise and Customs (CBEC) and Central Board of Direct Taxes (CBDT) may move the Supreme Court together against Kingfisher to recover their tax dues, reports Kritika Saxena of CNBC-TV18. After The Bell at 04:00 pm ...
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Mumbai airport may slap eviction notice on Kingfisher Airlines over dues Mumbai: In fresh trouble for Kingfisher Airlines, Mumbai airport authorities are likely to issue an eviction notice after the grounded carrier failed to respond to an earlier notice asking it to clear the Rs 22 crore dues towards parking and ... See all stories on this topic »

Kingfisher: Without office in Mumbai airport, will it remain an airline? What will happen to an Indian airline if it has no office in one of the busiest airports in the country? It probably will become almost non-existent. For Kingfisher Airlines, however, it is a little bit different because it is already non-existent for ... See all stories on this topic »

First Saudi mutual fund to be launched in Ireland

Investing in mutual funds? Know key features before choosing them Economic Times In recent times, the complaint that mutual funds have underperformed and that they should at least do better than bank deposits, has grown louder. In a year when the second mutual fund in the country, after UTI, celebrates its 25th birthday ... See all stories on this topic » Economic Times

Mutual fund investors pump in Rs 47000 crore in sector in October Financial Express At gross level, mutual funds mobilised a total amount of Rs 5,92,871 crore, while there were redemption worth Rs 5,46,151 crore as well -- resulting into a net inflow of Rs 46,720 crore, as per the latest data available with Sebi. This was the highest ... See all stories on this topic »

First Saudi mutual fund to be launched in Ireland Saudi Gazette JEDDAH — NCB Capital has become the first local institution to establish a non-Saudi registered range of funds under the Undertakings for Collective Investment in Transferable Securities (UCITS) platform registered in Ireland. The firm is also ... See all stories on this topic »

10 Bullets Aimed at the Heart of Mutual Funds (NYSE:SCHX, NYSE:SCHB ... ETF Daily News (blog) Wouldn't it be great to be a mutual fund executive? What could be better than sitting on a pile of money that pretty much sticks with you through up and down markets, churning out a steady cash flow? According to the Investment Company Institute, there... See all stories on this topic »

Small plane crashes in Palm Beach Co., Pilot dies

Federal authorities are investigating a small plane crash in Palm Beach County.

The body of the pilot was found on the scene. No other injuries were reported and  it was not immediately known if anyone else was in the plane at the time.
A statement from the sheriff's office says the Pilot's body will be taken to   the medical examiner's office.

It was not immediately known what caused the crash early Sunday morning.

 Authorities say the single engine plane was found in cane fields near the Pahokee Airport.

The Indian Institute of Management, Indore, has received seventh rank on various parameters

The Indian Institute of Management, Indore, may have courted controversies in the recent past, but it has done fairly well academically when compared to other B-Schools in the country.

According to a survey conducted by a management portal, in which except for IIM-B nearly 200 prominent business schools participated, IIM-I has received seventh rank on various parameters. The ranking survey was based on research methodology. Some specific criterion like the number of applications received, number of permanent and visiting faculty, total seats, median domestic salary and percentile cut-off were looked into before finalizing the rankings.

According to rankings, IIM-Ahmedabad tops the list, followed by IIM-Kolkata and IIM Lucknow, respectively, for the next two slots. The other seven B-schools in the top 10 list as per their rankings are - XLRI, NMIMS School of Business Management Mumbai, Faculty of Management Studies (University of Delhi), IIM-Indore, Management Development Institute, Gurgaon, S P Jain Institute of Management & Research Mumbai, and IIM-Kozhikode. Five out of the top 10 B-schools are non-IIMs, a trend that signifies private institutes' strive and urge to attain top slots.

The survey was conducted under the guidance of Padma Shree Bakul Dholakia, former director, IIM- Ahmedabad and R K Shukla, former director, NCAER-Centre for Macro Consumer Research. In the survey, Dholakia has pointed out that ranking a management institute is a difficult task. I hope the ranking would help MBA aspirants and recruiters make the right choice.

William (Bill) H. Gates Chairman of Microsoft Corporation,

Mr William (Bill) H. Gates is Chairman of Microsoft Corporation, the worldwide leader in software, services and solutions that help people and businesses realize their full potential.

On June 27, 2008, Gates transitioned out of a day-to-day role in the company to spend more time on his global health and education work at the Bill & Melinda Gates Foundation. He shares his thoughts about the foundation and other topics on Gates Notes, a Web site launched in January 2010. Gates continues to serve as Microsoft's chairman and as an advisor on key development projects. In June 2006, Craig Mundie assumed the new title of chief research and strategy officer at Microsoft and is responsible for the company's research and incubation efforts.

Born on Oct. 28, 1955, Gates grew up in Seattle with his two sisters. Their father, William H. Gates II, is a Seattle attorney. Their late mother, Mary Gates, was a schoolteacher, University of Washington regent, and chairwoman of United Way International.

Gates attended public elementary school and the private Lakeside School. There, he discovered his interest in software and began programming computers at age 13.

In 1973, Gates entered Harvard University as a freshman, where he lived down the hall from Steve Ballmer, now Microsoft's chief executive officer. While at Harvard, Gates developed a version of the programming language BASIC for the first microcomputer - the MITS Altair.

In his junior year, Gates left Harvard to devote his energies to Microsoft, a company he had begun in 1975 with his childhood friend Paul Allen. Guided by a belief that the computer would be a valuable tool on every office desktop and in every home, they began developing software for personal computers. Gates' foresight and his vision for personal computing have been central to the success of Microsoft and the software industry.

Under Gates' leadership, Microsoft's mission has been to continually advance and improve software technology, and to make it easier, more cost-effective and more enjoyable for people to use computers. The company is committed to a long-term view, reflected in its industry-leading investment in research and development each year.

In 1999, Gates wrote "Business @ the Speed of Thought", a book that shows how computer technology can solve business problems in fundamentally new ways. The book was published in 25 languages and is available in more than 60 countries. "Business @ the Speed of Thought" has received wide critical acclaim, and was listed on the best-seller lists of the "New York Times", "USA Today", "The Wall Street Journal" and on Amazon.com. Gates' previous book, "The Road Ahead", published in 1995, was at the top of the "New York Times" bestseller list for seven weeks.

Gates has donated the proceeds of both books to non-profit organizations that support the use of technology in education and skills development.

In addition to his love of computers and software, Gates founded Corbis, which is developing one of the world's largest resources of visual information - a comprehensive digital archive of art and photography from public and private collections around the globe. He is also a member of the board of directors of Berkshire Hathaway Inc., which invests in companies engaged in diverse business activities.

Philanthropy is very important to Gates.  He and his wife, Melinda, started a foundation in 2000 to help reduce inequities in the United States and around the world.  The Bill & Melinda Gates Foundation supports philanthropic initiatives in the areas of global health and learning, with the hope that in the 21st century, advances in these critical areas will be available for all people.  To learn more about the foundation, visit www.gatesfoundation.org

Gates was married on Jan. 1, 1994, to Melinda French Gates. They have three children. Gates is an avid reader, and enjoys playing golf, tennis and bridge

 bill gates

When you believe something can be done, really believe, your mind will find the ways to do it. Believing a solution paves the way to solution.

Believe it can be done. When you believe something can be done, really believe, your mind will find the ways to do it. Believing a solution paves the way to solution.

Norman Vincent Peale

Believe it is possible to solve your problem. Tremendous things happen to the believer. So believe the answer will come. It will.

James E. Faust

Believing requires action.

James Allen

By the power of faith every enduring work is accomplished.

Author unknown

Courage is the power to let go of the familiar.

Kingfisher Airlines, which used to operate out of domestic Terminal 1A of the city airport was served an eviction notice by Mumbai International Airport

Kingfisher Airlines, which used to operate out of domestic Terminal 1A of the
city airport was served an eviction notice by Mumbai International Airport Pvt
 Ltd (MIAL) a week ago. The airline, which owes Rs 22 crore to the airport
operator, has been rented out offices and check-in desks at the said terminal.

The development casts doubts on Kingfisher's ability to resume operations as the
airport operator has already started the process of getting another airline to move
 its operations to Terminal 1A.
While an MIAL source said that Kingfisher did not respond to their eviction notice,
an official from the airline, while confirming that they did get a notice from MIAL,
added that they had replied to the said notice. "We do not need all that space anyway
since we have scaled down our operations. So, we were in the process of voluntarily
handing over some of the rented space back to MIAL,'' the official added. Kingfisher
and the MIAL spokesperson refused to comment on the development.
Kingfisher, which operated close to 400 domestic and international flights daily
from various airports in India till last year, started scaling down its flight
operations from November 2011. "By the end of September 2012, the airline barely
had a total of 16 arrivals and departures a day out of Mumbai airport's Terminal 1A,''
said an airport source. "While plans are afoot to move Go Air from Terminal 1B to 1A,
we are also looking at the process involved in reclaiming much of the space rented
out to Kingfisher as the asset has not produced any income for quite a while,
because of the airline's inability to pay the rent,'' he added. "A few days
ago MIAL and Go Air officials came to have a look at the Kingfisher offices
located in Terminal 1A,'' said a Kingfisher source. "A meeting between
different agencies was also held a few days ago at the airport to apprise
them about the development and to discuss how the process of moving the
low-cost airline into Terminal 1A could be carried out,'' said the airport
source.

The move holds significance as Mumbai and Bangalore were the two airports that bore the load of a majority of Kingfisher's flight operations. "It is not every day that airlines move operations in and out of terminals. So, MIAL's eviction notice to Kingfisher's and their subsequent proposal to Go Air to move into Terminal 1A speaks volumes about what the future envisages for the beleaguered carrier,'' said an aviation source.
After an employee unrest left its flight schedule crippled, Kingfisher had announced a partial lockout on October 1. This was followed by another blow when on October 20, the Indian aviation regulator, the Directorate-General of Civil Aviation, suspended the carrier's licence to operate commercial passenger flights within and out of India. The recent development does not augur well for an airline that is supposed to be trying to resume its operations since then, added the source.