Vijay Mallya addresses media on Kingfisher Airlines revival plan

Kingfisher Airlines chairman Vijay Mallya on Tuesday addressed the media after a meeting with the board members to chalk a rescue plan for the airlines. The briefing is followed by a presentation by Kingfisher CEO Sanjay Aggarwal.

• We haven't sacked people as we value our employees
• Have asked banks to help increase our working capital
• Looking out at all elements of costs; shutting down only unprofitable routes
• Don't owe a single paisa to India Oil, Hindustan Petroleum. Have paid their dues in full
  
• We have a genuine need for working capital increase
• Have not asked govt for bailout; to use tax payers money to save our airline like Air India
• Thanks PM for intervention that Kingfiher needs solution
  
• Kingfisher doesn't owe anything to oil companies
  
• FDI in aviation must be permitted
  
• Have written to Ministry of Commerce to import fuel directly; save unnecessary fuel sales tax
  
• Have no hesitation in saying that state govts are enjoying full profits at the cost of aviation industry
  
• Have carefully analysed our strategy
• There will be soon be a bloodbath in low-end aviation segment
• Would like to focus on customers willing to pay extra for perks and frills. Competition is with only three full service carriers: Kingfisher looking to concentrate on the same 
• Cancelling flights doesn't mean Kingfisher Airlines is shutting down: Mallya
  
• Cancellation of flights blamed on wrong reasons
  
• Reason for exiting low-end market with Kingfisher Red well validated
• Decided to concentrate on the top-end of the aviation market
  
• Can't afford to fly on unprofitable routes
  
• Haven't dropped flights on routes where Kingfisher is the sole flier
  
• We cancelled only 50 flights. Cancellation of commercial flights a prudent decision
  
• Facts being misrepresented in the media

More details awaited