Kingfisher Airlines Limited was an airline group based in India.

Its head office is

inAndheri (East), Mumbai and Registered Office in UB City, Bangalore. Kingfisher Airlines, through its
parent company United Breweries Group, has a 50% stake in low-cost carrier Kingfisher Red. The airline
had been facing financial issues for many years.
[4]
Until December 2011, Kingfisher Airlines had the
second largest share in India's domestic air travel market. However due to a severe financial crisis faced
by the airline at the beginning of 2012, it has the lowest market share since April 2012.
[5][6]

The airline had shut down its operations when on 20 October 2012 the DGCA suspended its flying
license. The suspension had been due to failure to give an effective response to the show-cause notice
issued by DGCA. However, the airline had locked out its employees for several days before this
suspension. On 25 October 2012, the employees agreed to return to work.
[7]
In February 2013 the Indian
government announced the withdrawal of both domestic and international flight entitlements allocated to
the airline.
[8]


Kingfisher Airlines was established in 2003. It is owned by the Bengaluru based United Breweries Group.
The airline started commercial operations in 9 May 2005 with a fleet of four new Airbus A320-
200s operating a flight from Mumbai to Delhi.
[9]
It started its international operations on 3 September 2008
by connecting Bengaluru with London. Kingfisher's head office is located in The Qube
in Andheri (East), Mumbai and its registered office is located in UB City, Bangalore.
[10][11]
Its head office
was previously in the Kingfisher House in Vile Parle (East), Mumbai.
[12]
In 2012 Vijay Mallya was trying to
sell the Vile Parle Kingfisher House.
[13]
With the freezing of the bank accounts of the airline by the Indian
Income Tax Department, the airline entered a period of financial unrest.
[14]
Following are the year by year
financial results of Kingfisher Airlines, all values are depicted in Indian rupee (INR) crore except EPS,
which is in plain INR.
[15]

In September 2011, the chairman and managing director of Kingfisher Airlines made following disclosure
to the Bombay Stock Exchange(BSE); "The Company has incurred substantial losses and its net worth
has been eroded. However, having regard to improvement in the economic sentiment, rationalization
measures adopted by the Company, fleet recovery and the implementation of the debt recast package
with the lenders and promoters including conversion of debt into share capital, these interim financial
statements have been prepared on the basis that the Company is a going concern and that no
adjustments are required to the carrying value of assets and liabilities"
[16]
This filing was widely covered
by Indian and international print and electronic media and analysts. It was stated by analysts and media
that the company needed capital infusion to remain viable and this has pushed shares to near historic
lows.
[17]
Kingfisher Airlines Lenders later stated that they consider that company is viable.
[18]
On 15
November 2011 the airline released poor financial results, indicating that it was "drowning in high-interest
debt and losing money". Mallya indicated that his solution was for the government to reduce fuel and
other taxes. The government was engaged in assessing whether to bail out the company and other
airlines or let market forces determine which ones survive.
[19]


Ever since the airline commenced operations in 2005, it reported losses. After acquiring Air Deccan,
Kingfisher suffered a loss of over 10 billion (US$160 million) for three consecutive years. By early 2012,
the airline accumulated losses of over 70 billion (US$1.1 billion) with half of its fleet grounded and
several members of its staff going on strike. Kingfisher's position in top Indian airlines on the basis of
market share had slipped to last from 2 because of the crisis. In December 2011, for the second time in
two months, Kingfisher's bank accounts were frozen by the Mumbai Income Tax department for non-
payment of dues. Kingfisher Airlines owes 70 crore (US$11 million) to the service tax
department.
[20]
Indian tax body also stated that Kingfisher Airlines is delinquent
[21]
On 20 October 2012,
Kingfisher's licence was suspended by the Directorate General of Civil Aviation after it failed to address
the Indian regulator's concerns about its operations.
[22]
On 25 February 2013, its international flying rights
and domestic slots were scrapped by the Indian aviation authorities.
[23]