Auction of Kingfisher Brand Names Fails To Find Buyers

Business, News

Consortium of banks efforts to salvage a part of the money loaned to Vijay Mallya’s Kingfisher Airlines failed as the auction of various Kingfisher brands and logos failed to attract any buyers. These logos and brands were used as guarantee at the time of the loan. But the auction failed as no buyers turned up. Minimum bid amount for the auction was set at 366.70 crores.

Kingfisher Trademarks

Last week the consortium tried to auction off “Kingfisher House”, Kingfisher Airlines’ posh office in Andheri, Mumbai. The minimum bid amount of this 17,000 sq. ft building was set at 150 crores but it failed to attract any buyers. A number of brands and logos went under the hammer including “Fly The Good Times”, “Funliner”, “Fly Kingfisher” and “Flying models”.

There are multiple schools of thought as to why the brands failed attract any buyers. Tow prominent thoughts are that the brands are not that attractive for any new business and the consortium is bidding at too high a rate in order to get back as much of the loaned money as possible. Currently the Kingfisher Airlines brand is estimated to have a value of only 6 crores.

In the mean time, Vijay Mallya has refused to come back to India citing hostile and aggressive situation in the country. Indian government has already cancelled his passport and trying to get him extradited to India at the earliest.

Please follow and like us:

You May Also Like

ISL – Delhi Dynamos FC And Kerala Blasters Make Sparks Fly In 3 – 3 Draw In an electrifying match today at the Jawaharlal Nehru stadium in Delhi, Delhi Dynamos FC and kerala Blasters FC played for very different goals. Whil...
LG Pay White Card May Make Traditional Credit And Debit Cards Obsolete Technology giant LG's latest payment technology called "LG Pay White Card" can spell doom for traditional debit and credit cards. The project has been...
Reliance Jio Sets World Record By Gaining 16 Million Subscribers In A Month In a statement released, Reliance Jio claims to have set a new world record by growing faster than Facebook, Skype, Twitter and other such startups. T...
Soumyajit DasMazumdar on FacebookSoumyajit DasMazumdar on LinkedinSoumyajit DasMazumdar on Twitter
Soumyajit DasMazumdar
Soumyajit is an SAP technical consultant with a flair for writing. An avid blog reader, he started off with a free WordPress blog and slowly moved to his own personal news and blog site. Apart from writing he loves reading books, playing table tennis and long bike trips. He is currently trying to learn playing guitar and failing miserably.

One thought on “Auction of Kingfisher Brand Names Fails To Find Buyers

Leave a Reply