New Delhi: Vijay Mallya, popularly known as Liquor King, The Man of Good Times, has now proved to be a fugitive. The discussion of bringing Vijay Mallya, who ran away with Rs 9 thousand crores to India, is going on for a long time. However, no results have emerged yet. The one who is recognized as a fugitive today was once a king maker. His name was famous in the world of Bollywood, sports and corporate. The story that started with father's slap soon turned into a scene of destruction. The story of Vijay Mallya, who has climbed to the seventh sky of business with taglines like 'Fly the Good Times' and 'The Taste of Real India', is no less than the character of the film.
Today is Vijay Mallya's birthday. Mallya was born on December 18, 1955 in Kolkata. His father Vitthal Mallya was also a businessman and Vijay Mallya had learned the tricks of business from him. In the initial phase, Vijay Mallya had no interest in business. He was not very serious about studies either. Fed up with his son's misdeeds, Vitthal Mallya slapped him. Seeing his father's displeasure, Vijay Mallya changed himself.
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Inherited business from father
During an interview, Vijay Mallya said that that slap of his father changed his life. After that he started taking interest in business. Mallya inherited the liquor business from his father. Mallya was 28 years old at that time. He started working to make Kingfisher bigger. From TV to newspapers, Mallya ran Kingfisher beer advertisements everywhere. He gave the liquor business a corporate form. Vijay Mallya started beer sales under the umbrella of United Breweries in 1978 under the name Kingfisher Premium. Launched Kingfisher Calendar to promote beer business. Bought IPL team and then started Kingfisher Airlines. All this was part of the marketing of their Kingfisher beer.
Vijay Mallya was very creative in marketing his beer. To promote Kingfisher he bought RCB IPL team, Formula One team. Kingfisher's ad with RCB IPL is on people's radar till date. Cricketers from Dhoni to Virat Kohli and Chris Gayle were seen dancing to the tune of U La La La Le O….
Bet played on RCB in 2008
Vijay Mallya bought IPL team Royal Challengers Bangalore in the year 2008. Apart from this, he bought Formula One team Force India. However, with this, Mallya's downfall began. After purchasing Air Deccan, Mallya made a mistake in understanding their strategy. With the merger of Air Deccan, its fleet of 71 aircraft and 30% of its passengers also came into its share. Mallya hoped that Air Deccan customers would switch to Kingfisher. However this did not happen. Instead of Kingfisher, Air Deccan customers started turning to other low cost airlines.
Kingfisher Airlines started in 2003
Kingfisher Airlines was founded in 2003, but began operations in 2005. Gifted Kingfisher Airlines to son Siddharth Mallya on his birthday. Its parent company was United Breweries. Airlines were providing the opportunity of air travel at low cost along with the pleasure of luxury travel. It is also said that Mallya started Kingfisher Airlines to promote his beer brand. Kingfisher Airlines was known as five star air travel. To expand the business, he bought Air Deccan Airline in the year 2007.
Employees' salaries had to be stopped
Mallya's guess regarding Air Deccan started proving wrong. The decline of Kingfisher started from the year 2011. Airlines started running in continuous losses. There was a loss of Rs 1000 crore in three years. The situation became such that the flights had to be stopped. Employees' salaries were stopped. Income started decreasing, losses started increasing. The burden of debt started dominating. Mallya was not able to raise funds from the market to reduce the debt. However, there was no difference in Mallya's parties and lifestyle.
Kingfisher's license canceled in 2012
Kingfisher's license was canceled in 2012. International flying rights were also suspended in February 2013. In the year 2014, loans worth Rs 9000 crore from Kingfisher became non-performing asset. The company declared itself bankrupt. In the year 2016, Vijay Mallya left the country and fled to England after taking a loan of Rs 9000 crore from 13 banks including SBI. Since then, cases are going on regarding his extradition.
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