Existing Users: Because of an update to the forum software you will need to reset your password. Please use the "Forgot?" link on the sign in form to do so. If that doesn't work, send me an email at feedback@forzaminardi.com and I'll sort you out!
Speaking of airlines.........well, I was anyway.
Web's full of news about Kingfisher Airlines today. This is of course VJ Mallya's baby and major sponsor of force India.
What I'm reading seems to indicate:
- Indian Tax Office frozen KF bank accounts over non-payment of taxes
- Pilots and staff not being paid. Some pilots refusing to fly
- What money the company has is being used to pay fuel bills (if you an airline and on a cash-only basis with the fuel suppliers, you got troubles)
- Indian banks have classified debts as non-performing, having not had them serviced for 90 days. This is after they have gone through one wave of converting some debt to equity. Equity in shares that are currently at 22, from 48 last May
I'm reckoning that the administrators are already in the cab, or tuk-tuk, or whatever they call those little three-wheelie things.
What affect on Force India one wonders, and what must the new 42.5% owners Sahara India Pariwar be thinking????
Comments