November 11th, 2011
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No bail out for Kingfisher airlines

KingfisherNew Delhi: Vijay Mallaya’s cries for help falls on deaf ears. The Finance Minister Pranab Mukherjee has refused to bail out the sinking Kingfisher airlines. Kingfisher had earlier sought concessions from the government on the lines of those given to Air India. Civil Aviation Minister Vayalar Ravi said Mallya’s representatives had met him seeking help and he had spoken to Mukherjee to ask some leading banks to give financial assistance to the airline.

“Whether it is a private airline or Air India is immaterial. It is an Indian carrier and its closing down flights is affecting the traveling public. As a minister, I had to take up their cause, and spoke to the finance minister to help him out. However, he (Mallya) told me over the phone that the expected finances have not been given,” Ravi said.

Congress spoke person Manish Tewari said it remains to be seen whether in a market economy, the government will walk the extra mile to bail out a private company or “allow the fittest to survive.” BJP leader Yashwant Sinha said there was ” no case for a government bail out for kingfisher.'”



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