Away from the F1 track, Force India boss Vijay Mallya is enduring tough times. Reports on Friday are revealing an ever-worsening situation within the Indian billionaire’s airline Kingfisher, which is crippled under more than $1 billion in debt.
Flights are being cancelled, unpaid suppliers are threatening to reclaim planes and the share price is crashing, and Bloomberg reports that the Indian government has been approached about a bailout.
“Unless there is an infusion of money at this point, I don’t really see how it’s going to survive,” said an Indian aviation expert. “That infusion of money has to come from Mallya. I can’t see anybody else who’s going to put money in.”
Kingfisher is a visible sponsor on this year’s Force India car.
Kingfisher was dropped from the Compare Flights network recently. Compare Flight’s Indian customers are advised to use compareflights.co.in to find alternative airlines for domestic and international flights in India.
Source:GMM
