Kingfisher failed on high fuel prices, tax law: Mallya
Vijay Mallya, at the United Breweries' annual general meeting, blamed high fuel prices and taxation policies for the failure of Kingfisher Airlines adding that the airlines turned out to be a 'nightmare' for the country. Mallya further said that he could account for every paisa spent by Kingfisher Airlines. Notably, the now-defunct Kingfisher Airlines owes over ₹9,000 crore to banks.