Aviation industry has been one of the most efficient modes of transportation in the modern world. The aviation industry has changed the lifestyle of mankind and has lowered travelling time thereby improving the efficiency of work. Kingfisher Airlines has been one of the most renowned airline industries that have been operating India and various parts of the world. The company had been operating their flights domestically and internationally.
Kingfisher Airlines was inaugurated by Mr. Vijay Malaya, owner of Kingfisher Group. The company started with the objective of providing luxurious and quality airline experience to their passengers. The company during their early days had been functioning efficiently by fulfilling their objectives.
The company slowly moved away from their basic functions due to their inefficient administrative and management functions and it has been seen that it had led to their fall in the airline industry. The main factor that led to the fall of Kingfisher Airlines had been due to their various scams. One of the most the biggest scams that Kingfisher made was service tax evasion. The company collected the tax amount from the passengers during their journey and did not pay the tax to the Service Tax Department. They used the money for other purposes that were not necessary. The tax evasion strategy of the firm did not last long as the Service Tax Department raided the airline industry and it was seen that the company had a huge amount of tax that was due. The accumulated debt of the company kept on increasing at a significant rate as the as they did not establish profit from their operations. The accumulated debt of the firm accounted to 8030 crore. The financial burden of the company kept on increasing due to their sloth operations. The annual report of the firm from the first year of their operations revealed that they had been incurring loss. This loss had grown up to around 7000 crore during the end of 2012. The cumulative debt of the company was found to be 15000 crore. Kingfisher Airlines was declared as a Non- Performing Asset as by various bankers as they were unable to pay back the loans they had taken from the bank.
Kingfisher Airlines during their commencement of their business had a considerable amount of goodwill due to their other companies. However, with time, as the real performance of the firm was discovered that they had been facing losses and had a huge amount of debt. The disclosure of the true performance of the firm led to the fall in their stock price and thereby lowering their goodwill in the market.
Kingfisher Airlines tried to recover from their distress by acquiring Air Deccan as they thought it would increase their profitability and thereby improve their position in the airline industry. However, it is because of their estimating power the company did not look into the issues that could to lead to their disaster. The company overlooked the cautionary signs that were inherent with the acquisition of Air Deccan and therefore, lead to the disaster for the firm.
The current liabilities of the firm were increased by 23% and therefore, the company could not understand how to pay off their shareholders and their stakeholders. There were various other issues as well that led to the fall in the operations of the business. The economic issues of the firm comprised of the rise in bank credits due to their inability to pay off the debts. The growth in competition in the aviation industry even made the passengers aware of the various facilities offered by the airline companies and decided, which company would satisfy their needs and overlooked the luxurious travelling experience. The environmental factors were even issues as the changes in the climate led to delay in flight and therefore, they the company had to accommodate their passengers in order to satisfy them leading to increased cost for the company. Thus, it can be concluded that Kingfisher Airlines because of their own scams and faults along with the external factors faced adverse situations in the economy.
To export a reference to this article please select a referencing stye below:
My Assignment Help. (2018). Transcript Of Kingfisher Airlines: Aviation Industry. Retrieved from https://myassignmenthelp.com/free-samples/transcript-of-kingfisher-airlines-aviation-industry.
"Transcript Of Kingfisher Airlines: Aviation Industry." My Assignment Help, 2018, https://myassignmenthelp.com/free-samples/transcript-of-kingfisher-airlines-aviation-industry.
My Assignment Help (2018) Transcript Of Kingfisher Airlines: Aviation Industry [Online]. Available from: https://myassignmenthelp.com/free-samples/transcript-of-kingfisher-airlines-aviation-industry
[Accessed 30 March 2020].
My Assignment Help. 'Transcript Of Kingfisher Airlines: Aviation Industry' (My Assignment Help, 2018) <https://myassignmenthelp.com/free-samples/transcript-of-kingfisher-airlines-aviation-industry> accessed 30 March 2020.
My Assignment Help. Transcript Of Kingfisher Airlines: Aviation Industry [Internet]. My Assignment Help. 2018 [cited 30 March 2020]. Available from: https://myassignmenthelp.com/free-samples/transcript-of-kingfisher-airlines-aviation-industry.
At MyAssignmenthelp.com, we are committed to deliver quality assignment assistance in the fastest way possible. To make our service delivery fast, we have hired subject matter experts to work on different subject specific assignments. We have hired experts who owe in-depth knowledge in their respective subjects. As per their expertise, they provide geography assignment help, Physics assignment help, Strategic assignment help, history assignment help, art architecture assignment help and assistance with other subjects as well.
Answer: Introduction Sexual harassment takes account of behaviours from glances and inappropriate comments, jokes majorly based on gender stereotypes to sexual assault and other acts of physical violence. The addition to the principle of human dignity in Catholic social teaching has been the notion of unity and solidarity. Moreover, the assurance of personal dignity positions on protections ensured by the society. According to Triana et al. (...Read More
Answer: The Post The Fitbit is an accessory health device which is quite popular with respect to the fact that, health and fitness has become a premium industry. The Fitbit business started back in 2009 and gained utmost popularity in those days. The business model of the firm aims to provide a differentiated product to the different customers with various health data in return which can be useful in measuring the overall health and fitness a...Read More
Answer: The selected product overview L’Or`eal S.A is a France based personal care company the headquarter of which is located in Clichy, Hauts –de –Seine. The company was founded by Eugene Schueller in the year 1909. The CEO of the company is Jean –Paul Agon and by the year 2017, the company has gathered revenues up to 4. 676 billion Euros. It has been considered as one of the largest brands in the c...Read More
Answer: Introduction: Price water house coopers is a professional services provider, which is a multinational company networked with firms in more than 158 nations. The services provided by the company include capital markets, audit and assurance, financial counseling, financial solutions, improved decision making, and many more services to private and public clients (pwc, 2019). Diversification strategy There are various types o...Read More
Answer: Introduction Communication can be defined as the exchange of information that takes place between a sender and a receiver (Habermas, 2015). With the emergence of technology, the process of sharing information has shifted from face- to- face interaction or paper work to the use of electronic media. Communication that takes place with the help of electronic media is known as electronic communication or e- communication. The term communi...Read More
Just share your requirements and get customized solutions on time.
Our writers make sure that all orders are submitted, prior to the deadline.
Using reliable plagiarism detection software, Turnitin.com.We only provide customized 100 percent original papers.
Feel free to contact our assignment writing services any time via phone, email or live chat.
Our writers can provide you professional writing assistance on any subject at any level.
Our best price guarantee ensures that the features we offer cannot be matched by any of the competitors.
Get all your documents checked for plagiarism or duplicacy with us.
Get different kinds of essays typed in minutes with clicks.
Calculate your semester grades and cumulative GPa with our GPA Calculator.
Balance any chemical equation in minutes just by entering the formula.
Calculate the number of words and number of pages of all your academic documents.
Our Mission Client Satisfaction
Awesome write up for my assignment!!! Worth the money paid!!! Will come back .....
I really appreciate how the editor understood what I really meant to say thus making me feel more confident in submitting my work. I am an extremely happy customer. I will definitely sen un update on my grade.
Excellent work. We got total of 68 marks and we are very satisfied with the score. We gave this assignment near to deadline which is 2 days before due date. The assignment was about 4000 words and they did it well and gave it before 8 hours of submis...
I can\'t complain, speedy service and got the assignment before the deadline and got full mark