The editorial “Don't bail out” (Nov. 14) rightly highlighted the need for policy decisions and reform, rather than temporary measures to bail out capitalists. The statement of Prime Minister Manmohan Singh, who remains silent on even burning issues, in favour of a bailout for Kingfisher airlines, is sure to prompt banks to speed up a package. In this context, the editorial was very timely.
Vijay Mallya has been a prominent face of free enterprise and the virtues associated with it. With his liquor and airlines clout, he has promoted himself unabashedly. If he and his style of management have failed, so be it. Why should the government and banks rush to his rescue? After all, accountability is also a hallmark of free enterprise.
K.R. Vasudevan,Chennai
It would be preposterous for the government to even think of bailing out Kingfisher airlines. Public sector banks, too, should weigh all their options before taking a decision since their assets belong to people and cannot be frittered away. Just because all airlines are running on a loss, an ill-managed private company need not be bailed out with public money.
Gp. Capt. J.R. Arunachalam (retd.),Chennai
The article “The rise and fall of a castle in the air” (Nov. 13) points to three mistakes made by Mr. Mallya. It was like a cricket analysis by an expert who technically knows more than the poor player on the field. We can be very wise after the incident, especially if we are the onlookers. What makes a business a success? That is a million-dollar question. But it is pretty certain that success is not dependent solely on the strategies followed by the businessman. Failure also cannot be fully attributed to him. Only foolish ideas turn out to be path-breaking in business. Castles in the air build empires on the earth.
Stephen Mathews,Changanacherry
I am not pleading Mr. Mallya's case. But he has done a yeoman service to the country in the infrastructure sector. He purchased Air Deccan, which revolutionalised air travel in the country. Kingfisher and Kingfisher Red together have been serving on many routes, not served by our public sector airline. Ordinary people benefited a lot from Kingfisher Red. Mr. Mallya might have made a few mistakes. But the government did benefit from the huge import duties and tax on aviation fuel.
I.R. Kanth,Hyderabad
