6500 crore looks like a larger than life number for most potential buyers in the airline industry. Also the hiccups do not stop there. With losing skilled staff and senior pilots, the airline has to restructure from scratch which is quite a challenge for the airline which buys it.
Kingfisher Airlines bagged the tag of Non-performing assets, after which all banks have turned cold on it. SBI which lighted the hope for Kingfisher airlines by saying that it will lend some loans has also backed off and made clear that it will not provide any fund for the cash starved airline. The Income Tax department also made its stand accurate that it was no way interested in freezing the
60 crore service tax due of Kingfisher Airlines.
It is a sinking airline which has no captain, no crew and no navigator to lead its way. Daily operations of the airline have come to a standstill with no money to run daily operations. The airline requires about
400 crore to run its daily routines which acts like a working capital for the company.
Finally, this is an airline that has never made a profit since it was launched in 2005. So, never mind whether crude oil prices are at $30 or $120, or whether passenger traffic is good or bad, this is an airline that just does not know how to make money reports First Post.
