Kingfisher Oneworld alliance goes for a toss

Feb 05, 2012, 09:50 IST | Correspondent
Kingfisher Airlines has deferred its plans to join the Oneworld alliance until it can strengthen its financial position, an official said on Saturday.

The Vijay Mallya-owned airline was scheduled to become part of Oneworld on February 10. Reacting to the announcement, Bruce Ashby, CEO of Oneworld, said, "It has become clear that the Kingfisher Airlines needs more time to resolve its financial issues before it can be welcomed into Oneworld."

Mallya conceded that in view of the priorities centred around Kingfisher Airlines' re-capitalisation efforts, it was "prudent to defer" its entry into the alliance.

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