‘I Didn’t Run Away’ Vijay Mallya DENIES To Accept ‘Chor’ Tag, Apologises For Kingfisher Collapse

Vijay Mallya has finally spoken out. In a rare four-hour podcast with Raj Shamani, the embattled businessman addressed the collapse of Kingfisher Airlines, his ongoing legal troubles, and why he hasn’t returned to India.

Mallya apologised for the downfall of the airline but refused to accept being branded a thief. He said,“I apologise to everyone for the failure of Kingfisher Airlines. You may call me a fugitive, but I didn't run away. I flew on a pre scheduled visit… Where is the 'chor' coming from? Where is the 'chori'?”

Mallya Blames Crisis For Kingfisher Airlines Collapse

Mallya said Kingfisher Airlines was doing fine until the 2008 global financial crisis hit. He said, “The money stopped. It got dry. The value of the Indian rupee also took a hit.” According to him, the crash of the global economy hurt Indian markets hard and left his airline struggling.

He said he had approached then Finance Minister Pranab Mukherjee for permission to downsize Kingfisher’s operations. He said, “I went to Shri Pranab Mukherjee...and said I have a problem. Kingfisher Airlines needs to downsize.” But the request was denied. 

Mallya recalled, “I was told not to downsize. You continue, banks will support you. That is how it all started.”

After that, things only got worse. Kingfisher eventually shut down, leaving massive debts and unpaid salaries. Mallya now faces accusations of defaulting on loans of over Rs 9,000 crore taken from Indian banks.

Mallya On Living In UK And Returning To india

Since 2016, Mallya has lived in the UK and continues to fight his extradition despite a UK court ruling in 2018 that cleared the way for his return. He says his hesitation comes from fears of biased treatment and trial by media.

He suggested coming back under the right circumstances and said, “If I have a fair assurance of a fair trial and dignified existence in India, I will think about it seriously.”

Mallya said he’s willing to take responsibility for the failed business but won’t accept being called a thief.