Greater Noida, October 28: Exactly a week after the government suspended Kingfisher's licence to fly, the airline's near bankrupt chief Vijay Mallya flew in from London on his private jet and headed to the F1 circuit on Saturday and slammed the Indian media.
"You believe that Indian papers have any credibility?" Mallya said in response to coverage of Kingfisher troubles. "There is no libel law in India so there is nothing you can do to bring them to book."
Downplaying the KFA crisis, Mallya in fact blamed the media for "blowing out of proportion" the issue that saw an employee's wife committing suicide as the airline had till this week not paid salaries since March.
"My CEO Sanjay Agarwal has said what was to be said. We will recapitalize the airline. We are doing our work (to restart operations) internally and will respond to DGCA. We have infused Rs 1,200 crore into Kingfisher this fiscal since April, 2012. How I do that (recapitalize) is for me to decide and whenever there is something to be conveyed, it will be," Mallya said.
Mallya walked into the paddock at the Buddh International Circuit, where mediapersons were in a large attendance. If there was speculation about his swagger being muted, he changed that impression the moment he chose to talk.
In a tweet ahead of his appearance, Mallya had said, "At the Buddh International F1 circuit.Sahara Force India qualifying prospects are secondary. Even sports journos focus only on Kingfisher." And another said: "I have learnt the hard way that in India wealth should not be displayed. Better to be a multi billionaire politician dressed in Khadi."
KFA's licence was suspended last Saturday as the airline had reportedly not paid employees, airports, the tax department and other vendors for months. Its debt-cum-losses topped Rs 15,500 crore.
However, Mallya put up a brave front and said he had played a role in reaching a settlement with employees who had threatened protest at the F1 venue as he had been abroad ever since the trouble at Kingfisher took a turn for the worse this month.
"There is no question of any protest or disturbance. First of all you can't get in here and you know that. Outside the track is 15km away and if they wanted to say something to me, they needn't come to Noida, they could have come to my house...I have always been available and if you are trying to say that whatever settlement was reached was without my participation, you are wrong... if I am not at my home grand prix, why should I be anywhere else?" Mallya said.
Reacting to Airports Authority of India looking into legal aspects of seizing his personal AirbusCorporate Jet to recover dues of Rs 293 crore, he said, "Wonderful. I don't owe anybody money. Why should my plane be at risk. It's so stupid."
Aviation minister Ajit Singh has spoken of the sick airline and said it is "very difficult, though not impossible, for it to restart operations". Accordingly, DGCA chief Arun Mishra has said he will first speak to other stakeholders whom KFA owes money before taking a call on revoking the licence suspension.
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