India
SPICEJET BAIL OUT WOULD BE WRONG
AIRLINE PROMOTERS DESERVE JAIL
2014-12-24 12:48
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After Vijay Mallya of grounded Kingfisher Airlines, it is now the turn of Kalanidhi Maran of SpiceJet to take air-travelers, creditors, suppliers and the government for a ride. Ironically, there is a lot of similarity between the two southern business barons. Liquor baron Mallya was branded as ‘king of good times’ because of his lavish lifestyle. Media baron Maran has been, for years, India’s highest earning business executive. His remuneration package in 2013-14 was Rs.59.89 crore. Maran’s wife Kavery too got an equal remuneration, taking the combined annual pay package of the Marans to an astounding Rs.119.78 crore from his media enterprise, Sun TV, boasting some 33 regional channels.