New Delhi. Government’s approval for FDI in Retail and Aviation sectors has finally helped Kingfisher Airlines. However, it’s the FDI in Retail that might help the struggling airline rather than FDI in the Aviation sector.
International retail giant Walmart has offered to buy out all the aircrafts of Kingfisher Airlines and sell it in the “home décor” sections of their upcoming stores in India.
“We believe this will be a good investment,” said a senior manager at Big Bazaar, who is hopeful of being hired as Walmart India’s chief, “People loved the ballpoint pens and earphones offered by Kingfisher, and I’m sure they will love other parts too.”
Sources tell Faking News that Walmart is in talks with the government to find out ways through which it can have up to 100% FDI in Kingfisher Airlines. The retail giant doesn’t want to own just 49% or 74%, which may bar it from selling every part of the aircraft in its stores.
“We don’t want a situation where Vijay Mallya uses his shares and blocks some of our decisions, such as laying a claim over air hostesses or wanting the aircraft wheels for his F1 team’s cars,” said the employee currently in Future Group but ready to be in Walmart group in future.
The future employee further claimed that the real assets of Kingfisher Airlines were its employees and not the aircrafts, which would be rightly disassembled and sold off in parts in the Walmart stores.
“We hope to learn the tricks of the trade from their employees as we believe that the business strategy of Kingfisher Airlines is best suited for the retail sector,” the future Walmart chief said.
“See, they were brilliant in attracting footfalls and eyeballs, but the products that they were selling were priced wrongly,” he explained, “We need to learn and replicate the first and better half of their strategy.”