Liquor baron Vijay Mallya and did not do a deal with the British drinks giant Diageo will not sell valuable assets to save his ground Kingfisher Airlines Reuters reporter said he last weekend. When it comes to Indian forces in his office in the Formula One team co-owned UB Group head poured contempt for the media reported that he will be forced to sell shares profitable business capital Kingfisher.
This is a media point of view I do I'm not so sure that I lack the business acumen within I would like to sell a huge prosperity successful companies take cash and put it into an airline environment such as India Mallya said: The Grand Prix of India in the south of New Delhi Buddh International Circuit.
My team has the airlines generated enough cash funding we have already done to the airlines we have since April 2012 nearly 1.5 million pounds however this does not mean I have to sell my house The money funded airline. Sometimes i have used yellow pages indore to find the nearest businesses at my cousin's place.
Mallya has been talking to the brands include Johnnie Walker whiskey and Smirnoff vodka manufacturer Diageo sale of shares in his United Spirits Limited. Earlier this weekend he said he was not sure whether he would agree with the London-listed company. I did not do a deal with Diageo in said: Mallya. Next: I did not force any. But having said that I will do what is good myself my family wealth and long-term shareholder value. I have to do it because for each enterprise is a listed company I have the responsibility to the shareholders and the interests of these companies he said.
Sell assets to pay the airlines do not have any plans of this nature. BEST SHOT Kingfisher Airlines Limited the company never profit their license will be revoked the Indian civil aviation authorities last week and did not fly away employees protest since October has been unpaid since March. The cash-strapped carrier said on Friday that it will use its own money to try and get in the air. The day before the staff has agreed to return to work after November 13 the airline said it will pay the overdue wages of three months.
According to the consultant of the Asia-Pacific aviation center Kingfisher Group's total debt of about $ 25 billion. Mallya said that the airline must be handled professionally but he wants to continue to survive. Environment and government policies must also be encouraged to do so he said a cigar in hand. Therefore we will give our best shot and we committed to this. Tycoon he said on Twitter earlier in the week he was relieved to no longer billionaires on the latest Forbes list because it may reduce some envy directed at him defended the company management. He said that Kingfisher plight of many reasons but the taxes and the Government of India has laid much of the blame.
Fuel costs are very high dirty high taxes lack of foreign investment privileges literally - until six weeks ago the Indian aviation space is actually somewhat attractive growth potential so many different factors he explained. The government needs to look at the taxes very seriously. You can not have a 25% average fuel sales tax when crude oil prices hovering about $ 60 or $ 70 a barrel is now well over $ 100 a barrel. Mallya have been looking for a partner airline and said it had hired two investment bankers as part of the search.
We are in with a number of potential investors to engage in dialogue an Indian partner or partners or foreign partners he said. Now you can not possible suture in six weeks trading this is not possible which need more like six months. Everything on the move. Has a lot of moving parts we are trying to build a good solid strong package he said.