India's Kingfisher Airlines Sputters

The Indian carrier's cash shortage has hit creditors and employees

A cash crunch and frozen bank accounts have left Kingfisher Airlines unable to pay pilots on time or use the industry's travel agency booking systemBloomberg(2)

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By Karthikeyan Sundaram and Siddharth Philip

March 22, 2012 at 10:26 PM UTC

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This article is part of the March 26, 2012 issue of businessweek.

“I’m quite worried about the fact that the pilots haven’t been paid”

Anurag Chadha had one thing to say after flight disruptions at billionaire Vijay Mallya’s Kingfisher Airlines curtailed his holiday plans. “I will never fly Kingfisher again,” he groused after arriving on March 8 at Mumbai airport on a Jet Airways (India) flight from Kolkata. Chadha, who works for a management consulting firm in Mumbai, had been scheduled to fly back a day earlier on Kingfisher but ended up canceling his flight after repeated delays and spent a night in a hotel at his own expense.