Airbus Group NV said India’s easing of rules that banned its A380 superjumbos operating into the country may prompt several carriers to start services with the plane this year to the world’s second-most populous nation.
India lifted a ban on Airbus Group NV A380s from flying into the country, a move that will allow Deutsche Lufthansa AG and Emirates to send the double-decker plane to the world’s second-most populous nation.
Kingfisher Airlines Ltd. pilots and engineers said they will strike until seven months of unpaid salaries are settled, increasing the pressure on Chairman Vijay Mallya who has personally guaranteed $1.1 billion of the cash- strapped carrier’s debts.
Last month, the business empire of Eike Batista, once the world’s seventh-richest man and a mascot of economically resurgent Brazil, collapsed. The disaster ought to focus our minds on the perils of credit-fueled economic growth and highly leveraged corporations not just in Brazil but also in other BRICS countries.
State Bank of India, the biggest lender to grounded Kingfisher Airlines Ltd., said it will seize collateral pledged by the company after the carrier’s Chairman Vijay Mallya filed a lawsuit to stop the creditors.
Kingfisher Airlines Ltd., the Indian carrier that stopped flying in October because of a cash crunch, plans to restart services with funds from parent UB Group, according to an e-mail Chairman Vijay Mallya sent to employees.