More than eight years after leaving India amid a storm of legal troubles, fugitive businessman Vijay Mallya has broken his silence in a rare public interview. In a podcast with entrepreneur Raj Shamani, the embattled liquor baron opened up about the fall of Kingfisher Airlines, his failed attempts to save it, and his anger at being labelled a “chor” (thief) by the Indian public and media.
Credits: Hindustan Times
A Dream Grounded: The Rise and Fall of Kingfisher Airlines
Launched in 2005, Kingfisher Airlines set out to redefine domestic air travel in India. With plush interiors, in-flight entertainment, and a premium brand image, it quickly earned a reputation for luxury. However, beneath the glamour, financial troubles loomed.
Mallya admitted that the airline was badly hit during the 2008 global financial meltdown. “You ever heard of Lehman Brothers? You ever heard of the global financial crisis, right? Did it not impact India? Of course, it did,” he told Shamani, pointing out that the downturn dried up funds, crushed liquidity, and weakened the Indian rupee — all of which made it nearly impossible for the airline to stay afloat.
“I Wanted to Downsize. I Was Told Not To.”
Mallya claims that he wasn’t oblivious to the financial mess. He said he went to then Finance Minister Pranab Mukherjee with a plan to shrink operations to survive the harsh climate. “I said I have a problem. Kingfisher Airlines needs to downsize, cut the number of aircraft, and lay off employees, as I can’t afford to operate under these depressed economic circumstances.”
However, Mallya alleges that this proposal was rejected by government officials. “I was told not to downsize. You continue, banks will support you.” According to him, this political pressure forced the airline to keep bleeding financially, while bank loans kept piling up.
Soon, Kingfisher was forced to suspend flights entirely, leaving thousands of employees jobless and lenders chasing dues worth ₹9,000 crore.
On Leaving India: “I Didn’t Run Away”
Addressing his controversial exit from India in 2016, Mallya defended himself strongly. “Call me a fugitive for not going to India post-March (2016). I didn’t run away, I flew out of India on a prescheduled visit,” he said.
He maintained that he didn’t abscond or sneak out of the country but had a legitimate reason for staying abroad. “Fair enough, I did not return for reasons that I consider are valid,” he added, emphasizing that his decision was not an escape but a choice made in response to how events unfolded.
“Where is the ‘Chori’? Where is the ‘Chor’?”
Perhaps the most striking part of the interview was Mallya’s public frustration with being labelled a thief. “If you want to call me a fugitive, go ahead, but where is the ‘chor’ coming from… where is the ‘chori’?” he asked rhetorically.
He pointed out that he has always maintained that the money borrowed from Indian banks has been recovered — “multiple times over.” Earlier this year, Mallya told the Karnataka High Court that the ₹6,200 crore he owed had already been recovered from his companies, including United Breweries Holdings Ltd. (UBHL), now under liquidation.
He’s now calling for a transparent accounting of all recoveries made from him and his associated entities, claiming that the perception of him looting banks is unfounded.
Credits: Lokmat Times
Conclusion: A Comeback or Justification?
Mallya’s reappearance in the public sphere raises several questions. Is this an attempt at image rehabilitation, or simply a man trying to share his side of a decade-long controversy? While legal proceedings continue in the UK and India seeks his extradition, Mallya appears keen on shifting the narrative — from that of a fleeing defaulter to a misunderstood entrepreneur caught in a political and financial storm.
Whether the Indian public buys it remains to be seen, but one thing is clear: Vijay Mallya isn’t done telling his story.
