NEW DELHI, Jan 28:
Squarely putting the blame for collapse of Kingfisher Airlines (KFA) on the then government’s policies and economic conditions, troubled liquor tycoon Vijay Mallya has said public funds were used to bail out state-owned Air India, but not the then “largest domestic airline”.
Defending himself in a string of tweets, Mallya said all he sought was help related to policy change and not loans, questioning “public funds given to Air India”.
“KFA collapsed with oil at USD 140 per barrel and state sales tax on top rupee devaluation. No FDI engine failures. Economic depression. Need more?” he asked in a tweet.
He further said: “And KFA being the largest domestic airline was the worst hit. Government bailed out Air India, but did not bail out KFA. So much for “favours”.”
Mallya said he sought policy changes that he did not get, which hurt his airlines. (PTI)