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(Photo source: IANS) <ul><li><keyword id="14678" type="PERSON" weightage="20" keywordseo="Vijay-Mallya">Vijay Mallya</keyword>, an <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword>n liquor tycoon and the former boss of Kingfisher Airlines, will be extradited to India by order of a <keyword id="6354868" type="COUNTRY" weightage="20" keywordseo="UK">UK</keyword> court. </li><li>The allegations leveled against him include fraud, money laundering, and conspiracy. </li><li>He left India in 2016 in the middle of the investigation for the UK, a country where he is also a citizen. </li><li>He now has 14 days to file a appeal against the judgement but Central Bureau of Investigation has stated that they ‘hope to see him soon’. </li></ul>A UK court has approved the extradition of India’s liquor tycoon, Vijay Mallya, to India two years after he left India amid charges of fraud and money laundering. The former boss of the Kingfisher Airlines has 14 days to make an appeal against the judgement. The Central Bureau of Investigation (CBI) has released a statement following the order: “We hope to bring him soon and conclude the case. CBI has its own inherent strengths. We worked hard on this case. We are strong on law and facts and we were confident while pursuing extradition process.” The judgement was passed by the Chief Magistrate, Judge Emma Arbuthnot who stated that prima facie (on first impression) there is a case to be made against Mallya for fraud, conspiracy and money laundering. In recent weeks, Mallya has ‘offered’ to pay back what he owes to Indian banks. The allegations against fraud and money laundering amount to an estimated ₹90 billion. He maintains that these charges against him are ‘politically motivated’ and that he has done nothing wrong. According to the <a href="https://economictimes.indiatimes.com/news/politics-and-nation/mallya-extradition-case-arthur-road-jail-keeps-high-security-cell-ready/articleshow/67023180.cms">Economic Times</a>, there is a ‘high-security’ cell kept ready at the Arthur Road prison for Mallya. The same prison housed the 26/11 Mumbai attack terrorist, Mohammad Ajmal Kasab. See also: <a href="https://www.businessinsider.in/vijay-mallaya-wants-to-pay-back-100-public-money-that-he-embezzled-pleads-for-banks-to-take-it/articleshow/66950116.cms">Vijay Mallya wants to pay back '100% public money' that he embezzled, pleads for banks to take it</a> <a href="https://www.businessinsider.in/indias-corporate-fraud-investigation-agency-and-the-ceos-of-state-owned-banks-can-now-directly-prevent-scamsters-from-leaving-the-country/articleshow/66846397.cms">India’s corporate fraud investigation agency and the CEOs of state-owned banks can now directly prevent scamsters from leaving the country</a> <a href="https://www.businessinsider.in/india-takes-its-first-big-step-towards-avoiding-future-nirav-modi-vijay-mallya-like-scams/articleshow/65069668.cms">India takes its first big step towards avoiding future Nirav Modi, Vijay Mallya-like scams</a>

Indian liquor tycoon Vijay Mallya to be extradited — CBI ‘hopes to see him soon’

<ul class="generic-article__summary--ul content--ul"><li class="generic-article__summary--li content--li"><keyword id="176803" type="PERSON" weightage="20" keywordseo="Saffronart">Saffronart</keyword> to help auction assets seized from alleged perpetrators in Punjab National Bank scandal.</li><li class="generic-article__summary--li content--li">The items include artworks, Hermes handbags, a Rolls-Royce and limited-edition watches. </li></ul>The Punjab National Bank scandal is likely to cost India’s second largest state-owned lender about US$2 billion. Sale of assets seized from the alleged perpetrators including diamond designer <keyword id="571991" type="PERSON" weightage="20" keywordseo="Nirav-Modi">Nirav Modi</keyword>, starting this month, suggests a long road to recovery. Through the Enforcement Directorate, the agency responsible for fighting economic crime in India, the government has engaged Mumbai-based Saffronart to auction a litany of luxury goods to recoup its losses. The list includes prized artworks by Indian and Chinese painters, Hermes’ Birkin and Kelly handbags and a Jaeger-LeCoultre watch in platinum. A <keyword id="925742" type="COMPANY" weightage="20" keywordseo="Rolls-Royce-Ghost">Rolls-Royce Ghost</keyword> and a Porsche Panamera S are also going under the hammer. An on-site live auction is set for February 27 and an online bidding on March 3 and 4, with both events expected to raise US$5.7 million and US$7.1 million, respectively, the auction house estimated in an email to the Post on Wednesday. “These works are of significant interest to strong collectors and connoisseurs of Indian and Chinese art,” said Dinesh Vazirani, CEO and co-founder of Saffronart, which has conducted 250 auctions over its 20-year history. “In terms of interest, the bags and cars have a much wider appeal.” Diamond jewellery designer <keyword id="740578" type="DOMAIN" weightage="20" keywordseo="Nirav">Nirav</keyword> Modi fled India in 2018 after the Punjab National Bank scandal broke out. Photo: Mint via Getty Images Modi fled the country in early 2018, days before the scandal broke out revealing the issuance of letters of understanding for trade that bypassed Punjab National Bank’s internal controls. The Enforcement Directorate has since attached at least US$1 billion worth of assets belonging to Modi and other people charged in the case. Modi is being remanded in the UK’s Wandsworth prison until February 27 as he fights an extradition in a trial that is set to begin in May, according to an Economic Times <a href="https://economictimes.indiatimes.com/news/politics-and-nation/pnb-fraud-case-nirav-modi-to-appear-for-remand-hearing-in-uk/articleshow/73761275.cms" target="_blank" class="link-text">report</a>. on January 30. In another UK courtroom, <keyword id="14678" type="PERSON" weightage="20" keywordseo="Vijay-Mallya">Vijay Mallya</keyword> is appealing against his extradition as India’s government seeks to recover loans tied to the collapse of his <keyword id="6373962" type="COMPANY" weightage="20" keywordseo="kingfisher-airlines">Kingfisher Airlines</keyword>, the Hindustan Times reported on Wednesday.<h4 style="margin-top: 0.714286rem; margin-bottom: 1.42857rem; font-variant: inherit; font-stretch: inherit; font-size: 2rem; line-height: 2.42857rem; font-family: Roboto, sans-serif; vertical-align: baseline; display: inherit;"></h4>The two cases bear some semblance to some of <keyword id="21718" type="LOCATION" weightage="20" keywordseo="Asia">Asia</keyword>’s biggest corporate scandals. Low Taek Jho has been in hiding since the US$4.5 billion scandal involving the looting at a Malaysian state investment fund. Carlos Ghosn fled to Lebanon after being charged for alleged financial misconduct while helming Japanese carmaker Nissan Motor. For India, they are emblematic of the state of its banking industry. Years of poor lending controls, weak recoveries and occasional frauds have saddled the financial system with ever more soured loans. The country’s 42 commercial banks collectively wrote off 2.12 trillion rupees (US$29.7 billion) of bad loans in 2018-19, the <a href="https://www.business-standard.com/article/finance/india-s-banks-wrote-off-rs-2-trillion-worth-of-bad-loans-in-2018-19-119112900099_1.html" target="_blank" class="link-text">Business Standard reported</a> , citing official data released in parliament. That was 42 per cent higher than a year earlier, and equivalent to about one-fifth of their non-performing assets, it said. For Saffronart, its business can do with some stamp of recognition. The government last year engaged the firm to auction a cache of works by Indian and Chinese artists, raising almost US$8 million for the tax recovery department. Saffronart has set the industry standard for the process of valuation for artworks and collectibles, Vazirani said, “based on expertise and data analytics.”

Nirav Modi, Punjab National Bank scandal, Rolls-Royce and the rise of a Mumbai auction house

<keyword id="6373962" type="CITY" weightage="40" keywordseo="Kingfisher-Airlines">Kingfisher Airlines</keyword> launched in 2005 and was grounded in October 2012. Seems line Kingfisher Airlines cannot get a break. As a final blow to the Airline’s top management, its <keyword id="5645" type="POSITION" weightage="40" keywordseo="CEO">CEO</keyword> <keyword id="120112" type="PERSON" weightage="60" keywordseo="Sanjay-Aggarwal">Sanjay Aggarwal</keyword> has put in his papers and is moving on from the company. Aggarwal was getting a hefty pay package of Rs 4 crores, even after the operations of the ill fated airlines had stopped in 2012. 
 Sanjay had joined Kingfisher group in September 2010 and took charge of the then high-flying airlines under <keyword id="14678" type="PERSON" weightage="40" keywordseo="Vijay-Mallya">Vijay Mallya</keyword>. He was introduced to the Kingfisher Airlines business to grow the network and bring the Indian air operator back to profit. However, nothing of such sort happened. Before his stint at Kingfisher he was in-charge of Spicejet low-cost carrier in India. 
 Kingfisher Airlines has posted losses of over Rs 820 crores ending December 2013 and one has not seen any steps from the group to resolve the situation in any manner. It almost looks like UB group and its <keyword id="6364480" type="POSITION" weightage="40" keywordseo="Chairman">chairman</keyword>, Vijay Mallya, have given up on the dream to fly its jets again in the Indian and international skies. 
 
Image: Wikipedia

Final Blow To Kingfisher Airlines As Its CEO Sanjay Aggarwal
Quits

When <keyword id="6379603" type="PERSON" weightage="80" keywordseo="Arundhati-Bhattacharya">Arundhati Bhattacharya</keyword> was the deputy general manager at <keyword id="6354731" type="CITY" weightage="80" keywordseo="State-Bank-Of-India">State Bank of India</keyword> (SBI) in 2001, she used to wonder why the bank is spending so much to maintain foreign operations' back office overseas. She couldn't do much at that time. Now as the chairman, she worked methodically and systematically to fix problems and used technology and recovery model to transform the bank. 
 

	According to her, red tape and a rigid bureaucratic structure made even the simplest of tasks difficult. Today, she is the bank's chairman and has not forgotten her 14-year-old idea. "I did not find traction then, so I am bringing it now," Bhattacharya told the Economic Times. 
	 

	Locating bank back offices in low-cost locations like India would seem a no-brainer. The fact that SBI is doing it now may seem ordinary but it is important in the context of the bank's history, its decision making process and its structure. 
	 

	India's biggest, oldest and most venerable bank faces multiple challenges at a time when the weight of bad loans alone, not to mention competition and costs, threatens to derail its plans. 
	 

	Bhattacharya would know more than anyone else that SBI may well get bypassed by the technology revolution if it does not take serious steps. She is not sitting idle, but she is not tearing up the system and creating a revolution either. She is working to identify problems and fix them. Technology and recovery will be the pillars on which SBI rests. When she decided to transform the bank from a staid state-run lender into a customer-friendly one, she went hunting for a technology hand familiar with the ways of the West, and hired former <keyword id="6386585" type="CITY" weightage="80" keywordseo="Barclays">Barclays</keyword> executive SK Bhasin as chief technology officer. 
	 

	"I have been looking across the globe for people who have done these things well to try and replicate some of their experience," says Bhattacharya. We have done all of these through IT (information technology). Without IT none of these things could be done well." State-run bankers, intensely focused on lending and raising deposits, rarely factored in technology in their lives. Bhattacharya's efforts in targeting future businesses is reflected in its recent business arrangements with <keyword id="18635" type="CITY" weightage="80" keywordseo="Amazon">Amazon</keyword>, Snapdeal and many more digital-age companies, pushing the Essars and Chettiyars to the back seat. 
	 

	New businesses are future profits. But what about the bad loans of the past, which together with restructured loans are at 10% of total loans, making the industry technically insolvent. SBI is no exception to bad loans. Its gross bad loans and restructured loans are at Rs 83,434 crore, or 8.4% of total loans, equivalent to the government's spend on social issues like healthcare and education this year. 
	 

	"There is no point in getting impatient," says Bhattacharya. "It has to be done diligently. When the finance minister wanted to know the one thing that was my priority, I said we wanted a bankruptcy law." The Indian judiciary is notorious for prolonging decisions on disputes, and the promoters of companies, especially wealthy ones such as United Spirits' <keyword id="14678" type="PERSON" weightage="80" keywordseo="Vijay-Mallya">Vijay Mallya</keyword> whose <keyword id="6373962" type="CITY" weightage="80" keywordseo="Kingfisher-Airlines">Kingfisher Airlines</keyword> owes more than Rs 7,000 crore, have exploited the loopholes. But because the <keyword id="6354477" type="PERSON" weightage="80" keywordseo="Narendra-Modi">Narendra Modi</keyword> government unlike previous ones does not provide defaulters with protective shields, bankers such as Bhattacharya are emboldened to take action. "We have a lot of angst against these promoters, who we believe are taking the system for a ride," says Bhattacharya. "If the promoter has taken money he has to give it back. There are no two ways about it. If they don't, their lives are going to be miserable. I have deep pockets to do it. There is no point in messing around." All this is not lost on foreign investors. SBI is the only top PSU lender where foreign funds are raising stake even as they have cut them in <keyword id="62034" type="CITY" weightage="80" keywordseo="Punjab-National-Bank">Punjab National Bank</keyword> and Bank of India. "I would say SBI is a private sector bank because the new CEO is phenomenal," says <keyword id="105152" type="PERSON" weightage="60" keywordseo="Avinash-Gupta">Avinash Gupta</keyword>, managing director and head of institutional equities at <keyword id="122772" type="CITY" weightage="80" keywordseo="Bank-of-America-Merrill-Lynch">Bank of America Merrill Lynch</keyword>. Gupta deals with a lot of foreign investors, many of whom are impressed by Bhattacharya's firmly-in-control attitude and her desire to change things. When Bhattacharya took charge in 2013, profits were sliding, bad loans were climbing, the economic climate had deteriorated and the private sector was poaching its clients . There was no point in waiting for the tide to turn. "I couldn't expect the external environment to suddenly turn around and give me good results," says Bhattacharya. What did she do? "Like any good housewife who will husband her resources when the chips are down to ensure every rupee helps make her go further," SBI turned prudent, she said. "When I talk about cutting expenses, I mean unwanted expenses. Not what is required to build business," she says. "All expenditure has to be controlled to yield the best results. A lot of us were travelling <keyword id="34412" type="ORGANIZATION" weightage="80" keywordseo="economy">economy</keyword> (class) for quite a while." 
	 

	Lawyers and landlords are at the receiving end of Bhattacharya's measures to contain waste. The days of branches negotiating rent for branch offices are over. It is no longer done at the 11th hour, which often gives property owners the upper hand. Alerts come up 18 months before the lease expires, and the head office monitors and ensures it is done a year in advance. 
	 

	It is no secret that the judiciary and the system are as responsible for banks' ills as the banks themselves. While disputes run for months, bankers remain observers. But this is not the case with SBI anymore. Its advocates have been made accountable. "There are some advocates who keep taking adjournments, and there are others who move fast," says Bhattacharya. 
	 

	"I know every advocate's performance." While a lot of these issues are administrative in nature, what is the scene when it comes to its core business — lending? "She has a very clear-headed approach," said <keyword id="85088" type="PERSON" weightage="80" keywordseo="Romesh-Sobti">Romesh Sobti</keyword>, MD &amp; CEO of <keyword id="46717" type="CITY" weightage="80" keywordseo="IndusInd-Bank">IndusInd Bank</keyword>. "It's a well-defined approach to many issues the banking industry is facing. She is forthright in her ability to articulate issues not only facing SBI but also the banking industry," said Sobti. There is a paradigm shift. Tractor loans, treated as crop loans, are now automobile loans. Instead of waiting for the harvest to repay, the borrower has to pay on a monthly basis, like with equated monthly instalments in a car loan. 
	 

	"When a farmer gets money from a crop, it first goes to others — the teacher, grocer... banks are last on the list," says Bhattacharya. "Make them EMI-based. Can I give them loans which will yield a regular stream of income? We were lacking the customer connect." 
	 

	Many current and former SBI customers would agree. The question now is not just how quickly she can change perceptions about the bank but also how soon she can make the bank's cash machine churn out profits. With non-performing loans assuming alarming proportions, it will take all of Bhattacharya's combativeness to stem the rot.

	 
	(Image: Reuters)

Know how SBI chief Arundhati Bhattacharya changed India's largest bank for the better

NEW DELHI: The spate of serious aviation mishaps globally is all set to impact the financials of already struggling <keyword id="1446" type="CITY" weightage="20" keywordseo="indian-airlines">Indian airlines</keyword>. A leading unlisted Indian airline will have to renew its aircraft <keyword id="35450" type="COMPANY" weightage="20" keywordseo="insurance">insurance</keyword> in coming days. To its horror, it found that insurance premia charged by foreign companies (Indian insurers do not provide cover for aircraft to airlines) have shot by 15-20%. 
 
"Our insurance covers have to be renewed shortly. The initial talks we had with insurers in past few days showed that premia are up by 15-20%. May be when we actually strike a deal, the hike is softened a bit but general insurers feel that their underwriting risk is up and they are going to charge more," said the CEO of this airline. 
 Another airline also confirmed that insurance premia are up. "We are trying to minimize this blow as any additional cost has to be passed on to the flyer. In India, however, irrational pricing by some airlines means that we are unable to recover our costs. For airlines in black, it means lower profits. And, for loss-making carriers, it means more red ink on the balance sheet," said a <keyword id="160569" type="POSITION" weightage="20" keywordseo="senior-official">senior official</keyword> of the airline. 
 Centre for Asia Pacific Aviation (CAPA) India head <keyword id="159658" type="PERSON" weightage="20" keywordseo="Kapil-Kaul">Kapil Kaul</keyword> said he did not see insurance costs going up sharply except for airlines in "war or conflict" areas. "Premiums have been at their lowest for quite some time and increases, if any, will be marginal," he said. 
 However, for Indian carriers battling high costs any rise in cost is a bad news. Of all desi airlines, only low-cost IndiGo claims to be consistently profitable. GoAir has started reporting profits since last two fiscals. All others are deep in the red, with one airline facing a serious question mark on its survival prospects due to a severe <keyword id="6357455" type="EVENT" weightage="20" keywordseo="Funding">funding</keyword> crunch. 
 "Indian carriers cannot survive in the existing cost structure. The government should provide relief on jet fuel price front else there will be some more Kingfisher-like fold ups," said an <keyword id="203924" type="POSITION" weightage="20" keywordseo="airline-official">airline official</keyword>. According to CAPA, collective losses of Indian airlines in past seven years till March 2014 are $10.6 billion and their combined debt is $15.8 billion. Airlines are expected to collectively lose $1.8 billion in FY 2013-14 and $1.4 billion in FY-15.

Desi Carriers' Insurance Costs Rise 20% On Global Crashes

BANGALORE: A year after aviation entrepreneur G R Gopinath sold his baby — India's first low-cost airline <keyword id="96736" type="CITY" weightage="80" keywordseo="Air-Deccan">Air Deccan</keyword> — he had famously told TOI that budget air travel was all about people wanting to go where an aircraft took them. People, said Gopinath, should ask, "to where can I get a ticket for Rs 500? So wherever that place may be, people go because the aircraft is going there." 
 Unfortunately, Gopinath was much ahead of his time, said 33-year-old Mittu Chandilya, CEO of <keyword id="1583080" type="COMPANY" weightage="80" keywordseo="AirAsia-India">AirAsia India</keyword>. Almost seven years after the Air Deccan legacy, AirAsia India is living up to Gopinath's words with the launch of its maiden flight from Bangalore to Goa on Thursday. "We want to give people the option to fly even if they didn't think about it," said Chandilya. 
 
A mint fresh Airbus 320 aircraft, registered as VT-A TF, took off to Goa at 3.10pm with 186 passengers including 10 children, three infants, five first time flyers and CEO Chandilya. Around 40% of the passengers paid Rs 990 for a one-way ticket, 10% paid Rs 5 as base fare (approximately Rs 500 all inclusive), and the rest of them didn't pay more than Rs 1,900. 
 
Besides the ticket fare, all passengers paid for their check-in luggage, which costs approximately Rs 199 per suitcase up to 15kg. The airline is in discussions with the Directorate General of Civil Aviation (DGCA) on whether or not passengers should pay for their check-in luggage. While the DGCA has raised objections to the charge, AirAsia India believes that 'unbundling of fares' leads to more transparent airfares. 
 
"Somebody should be able to get up one weekend and say look I got nothing to do, so let me get on a flight and go somewhere and explore a destination which is new. Cost should be almost something that people don't spend time thinking about," said Chandilya, echoing what Gopinath had said years earlier. But he was quick to point out that AirAsia India is not an Air Deccan. 
 
India's newest domestic low-cost airline has started operations on the non-trunkBangal ore-Goa route, and at a time when the tourist season of Goa is at its lowest. The airline's second flight connecting Chennai-Bangalore next week is also on a non-trunk route, given the fact that the two southern metros are exhaustively connected by bus and rail services. 
 
"Both Bangalore and Goa have some sort of synergies with us in terms of our brand, marketing, and as destinations we believe that we can build up," said Chandilya, adding that AirAsia India's average fares would be comparable to rail tickets. "Railways first class and AC class is my target," he said. 
 
Interestingly, all of AirAsia India's upcoming destinations — nine by the end of this year — will connect to Bangalore. A clear indication that the country's IT capital could well be the airline's operational hub. The erstwhile Kingfisher Airlines had planned to make Bangalore its hub, but that idea died with the airline going bust a couple of years ago. 
 
Originally Chennai was chosen to be AirAsia India's hub, but there is some rethink happening on that strategy. "If you have a sudden emergency, which airport has the capability to get you up and running fast? We felt it was Bangalore. And that's the difference between private and government run airports," he said.

Air Deccan Was Ahead Of Time: AirAsia CEO

<ul><li>Indigo has been hit by labour troubles on the ground too as this month, aircraft maintenance technicians went on a mass sick leave for two days in Delhi and Hyderabad.</li><li>All the airlines will face shortage of crew, leading them to poaching.</li><li>Experts also fear that this increase in demand for experienced pilots will push them to hire foreign pilots.</li></ul>India’s largest airline Indigo has been well-known for its on-time performance. Yet, earlier last month over half of its flights were delayed. Reason? A large chunk of its <keyword id="55080" type="General" weightage="20" keywordseo="cabin-crew" source="Orion">cabin crew</keyword> staff took a sick leave. As per s<a href="https://zeenews.india.com/aviation/indigo-staffing-trouble-continues-now-technicians-go-on-mass-sick-leave-for-this-reason-2483851.html">ources</a>, they all went to attend a mass recruitment drive by Tata Air India, a competitor. The airline has been hit by labour troubles on the ground too as this month, aircraft maintenance technicians went on a mass sick leave for two days in Delhi and Hyderabad to protest low wages and salaries. There will be more such incidents in the coming months, experts say, as a new airline Akasa Airlines is all set to launch operations. Jet Airways too is making a comeback and even Tata Air India is getting ready for a revamp. All of them will face shortage of crew, leading them to poaching. There are around 17,000 registered pilots in India out of which over 2,500 are women. The industry needs much more. “India needs 10,000 more flight attendants, 6,000 more qualified pilots. Compared to past slowdown of 2010, 2012 or 2009 in the industry, this time it is going to be very hard for the airlines to sustain. To sustain growth one has to add aircrafts, fleets, need more pilots, flight attendants, engineers,” Mark Martin, founder and CEO of Martin Consulting told Business Insider in an interview. Experts also fear that this increase in demand for experienced pilots will push them to hire foreign pilots. Flying schools had closed during the Covid-19 pandemic for two years and there are a lot of pending licenses to be approved as well. It’s not just the pilots but there will be a shortage of experienced engineers, ground staff and other cabin crew that new airlines would love to have in their fold. It means an aviation talent war is afoot and it will be another ground for old and new airlines alike to battle on — in addition to fliers and flying slots. <cmsannotation type="cmsannotation" annotationid="Salary cuts and bruises" comment="subhead" text="Salary cuts and bruises">Salary cuts and bruises</cmsannotation> While many international airlines went bankrupt and shut shop during the pandemic close downs, top Indian airlines have managed to stay afloat. For which, they had to resort to salary cuts and more such moves. Indigo and SpiceJet both deferred and slashed salaries but also restored them within a year, as airlines started flying in 2021. But very few salaries <a href="https://www.outlookindia.com/business/talent-war-amongst-airlines-aviation-sector-indigo-air-india-akasa-air-air-india-how-indian-airlines-are-gearing-up-to-prepare-for-talent-war-news-207844">are back to pr</a>e-pandemic levels in spite of the fact that Indians have been thronging airports in the recent months. This could be another reason why most of them could be swayed by better salaries and offers from the market. Praveen Paul, a Bengaluru based aviation consultant disagrees. He believes that employees would stick to bigger airlines which are better paymasters and will look for stability in addition to hikes. Indigo, he says, is one of the few airlines that pays its employees on-time, unlike most others. “I don’t see talent running to new airlines in a hurry. Indigo, Tata’s Air India will not lose any talent while SpiceJet, Go Air may lose as employees feel whatever happens they get their salaries on time at Air India and Indigo,” Paul told Business Insider India. Aviation sector jobs, while technical and necessary, have gone through many rounds of stress and strain in the last few years. After the debacle of Kingfisher employees who were never paid when it closed down in 2016, Jet Airways and its bankruptcy was also hard on the sector and its employees. However, now that there’s a turnaround, they would be in a better position to negotiate — that could be bad news for airlines who are already flying on wafer thin margins thanks to a massive increase in aviation turbine fuel prices. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/spicejet-says-its-md-ajay-singh-is-the-victim-to-a-bogus-complaint/articleshow/92818041.cms">SpiceJet says it’s MD Ajay Singh is the victim to a bogus complaint</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/butter-chicken-keema-pav-anda-burji-but-without-anda-or-chicken-and-mutton-how-startups-and-fmcg-players-are-shaping-indias-plant-based-meat-category/articleshow/92810504.cms">Butter chickenless, UnMutton keema — vegan meats hope to become the next ‘paneer’ but health concerns remain</a>

You Searched For "Kingfisher Airlines CEO" and got 7 results

Indian liquor tycoon Vijay Mallya to be extradited — CBI ‘hopes to see him soon’

Prabhjote Gill

Nirav Modi, Punjab National Bank scandal, Rolls-Royce and the rise of a Mumbai auction house

SCMP

Final Blow To Kingfisher Airlines As Its CEO Sanjay Aggarwal Quits

Sulabh Puri

Know how SBI chief Arundhati Bhattacharya changed India's largest bank for the better

BI India Bureau

Desi Carriers' Insurance Costs Rise 20% On Global Crashes

Saurabh Sinha

Air Deccan Was Ahead Of Time: AirAsia CEO

Times Of India

After techies, its aviation crew salaries that will be ‘up in the air’

Vaamanaa Sethi

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