Vijay Mallya flies - 2012 F1 Indian Gp

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Vijay Mallya flies in for Indian GP

GREATER NOIDA: Embattled Force India team boss Vijay Mallya made his Indian Grand Prix entrance in combative mood on Saturday, lashing local media for their coverage of his business troubles and grounded Kingfisher airline.The liquor and aviation tycoon, no longer a billionaire according to the latest Forbes list, flew in from London on his private Airbus after suggestions that he might stay away to avoid having it impounded."Was there any doubt about my presence here?" he told Reuters, minutes after walking through the paddock turnstiles with cars roaring around the Buddh circuit as final practice got under way.Vijay Mallya's Kingfisher Airlines had its licence suspended by India's civil aviation authorities last week and has not flown since the start of October after a protest by employees, unpaid since March, turned violent.The airline has never turned a profit and, according to the consultancy Centre for Asia Pacific Aviation, has total debt estimated at about $2.5 billion.vijay Mallya has not been seen in India for weeks and the airlines troubles, as well as a threat of protests by Kingfisher employees outside the Formula One circuit, have led to speculation about whether he would return for the race."You believe that Indian papers have any credibility?," said Vijay Mallya, bristling when asked about the recent coverage of his affairs."There is no libel law in India so there is nothing you can do to bring them to book," he added, accusing his media critics of 'cooking up sensational headlines daily' and writing nonsense."Obviously if I am not at my home grand prix, why should I be anywhere else?"

Rebukes Doubters

Vijay Mallya is an important figure in Formula One, a longtime friend of F1 supremo Bernie Ecclestone and sitting on the governing International Automobile Federation's world motor sport council.He was also instrumental in bringing the sport to the country and co-owns the first and only Indian-licensed team."Why should there be even one iota of doubt that I wouldn't be here? I just don't understand it," he said. "Kingfisher Airlines is a Plc. They (the local media) don't understand the concept of a Plc."In a Plc where is one man, who might be the chairman, responsible for the finances of the entire Plc? And what has it got to do with all my other businesses? I have built up and run the largest spirits company in the world in this country."Asked whether he had flown to India on his plane, Vijay Mallya vented more frustration."You are probably referring to my plane being seized? Wonderful. I don't owe anybody money," he said. "Why should my plane be at risk. It's so stupid."Vijay Mallya also controls United Spirits, which is in talks to sell a stake to UK giant Diageo Plc, and flagship liquor business United Breweries.Asked about the Diageo talks, Vijay Mallya said no deal had been done yet: "Whenever we need to say something we will, we keep discussing but we don't know whether a deal will happen or not," he added. TIMES OF INDIA
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KINGFISHER AIRLINES
Kingfisher Airlines
At a meeting with DGCA chief Arun Mishra, airline CEO Sanjay Aggarwal informed him that 'at present, the source of funding for the airline will be through their own resources,' official sources said after the 30-minute meeting.
UB Group to fund Kingfisher revival plan?
DGCA asks Kingfisher to take on board stakeholders on revival plan
DGCA chief Arun Mishra said he would talk to the cash- strapped airline's stakeholders to ascertain whether it would be able to operate in a sustainable manner, official sources said.
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October 25, 2012
Indian Grand Prix waits for Vijay Mallya's arrival
The flamboyant Indian Formula One team owner and self-proclaimed 'King of Good Times' was nowhere to be seen at the F1 venue.
Kingfisher lifts 25-day lockout, agrees to pay 4 months' salary dues
The nearly month-long crisis in Kingfisher Airlines ended with the management lifting the lockout and agreeing to pay by December end four months salary dues to striking employees who decided to return to work with immediate effect.
KFA mgmt ‘splits’ employees with 3-month pay offer
The cracks between Kingfisher Airlines’ employees over acceptance of management’s latest offer of giving three months’ salary widened on Wednesday.
October 24, 2012
Airline row eclipses home grand prix for Vijay Mallya
Disgruntled staff of Kingfisher Airlines plan to confront Force India's 'king of good times' with sit-down protest at the Delhi circuit.
Kingfisher staff want four months' pay in lumpsum by Friday
Prolonging the deadlock over payment of salary dues, Kingfisher Airlines employees on Wednesday rejected the management's fresh offer and demanded payment of four months' backlog.
October 23, 2012
Striking employees reject Kingfisher 3-month salary formula
The agitating staff plan to hold demonstrations and other protest actions at venues of the upcoming Formula One motor race in which UB Group chief and Kingfisher promoter Vijay Mallya is involved.
Indian GP: Vijay Mallya expects another spectacular race
The Sahara Force India team principal said that a double points finish at the Buddh International Circuit (BIC) will be a fitting result for the team's home race.
Kingfisher employees reject plan of salary in instalments
The striking employees of the debt-ridden Kingfisher Airlines have rejected its offer for payment their salary dues in three instalments before Diwali.

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