Vijay Mallya Breaks Silence: A Rare Interview on Kingfisher’s Fall, Legal Troubles, and the Indian System
In a rare and candid interview, Vijay Mallya—the flamboyant businessman once dubbed the “King of Good Times”—has re-entered the public spotlight after nearly a decade of silence. Appearing on Raj Shamani’s widely followed podcast Figuring Out, Mallya opened up about everything from the collapse of Kingfisher Airlines and the resulting debt crisis to his bruised image in India, dreams of returning, and his scathing critique of India’s business environment.
The conversation, which lasted over four hours, gave viewers a rare glimpse into the psyche of a man who was once among India’s most prominent industrialists. While he remains a controversial figure—celebrated by some, reviled by others—his version of events stirred debate and reflection, especially regarding corporate failures, media narratives, and governance.
“I Take Full Responsibility”
One of the most striking moments in the interview was when Mallya took responsibility for the downfall of Kingfisher Airlines, once India’s second-largest carrier. “It was my airline, my vision, my company. I take full responsibility for its failure,” he said. Mallya attributed the collapse not to mismanagement or lavish spending—as often portrayed—but primarily to the 2008 global financial crisis and rising fuel prices, which hit the aviation industry hard across the globe.
Kingfisher’s business model, according to Mallya, was never flawed in principle. “We were offering a world-class service in a country that was starved of premium experiences,” he said. However, with mounting debts, delayed payments, and increasing operational costs, the airline eventually ground to a halt in 2012, leaving behind unpaid employees and lenders scrambling to recover dues.
Apology to Employees and Creditors
In what many viewed as an overdue gesture, Mallya publicly apologized to Kingfisher employees. “To the thousands of people who gave their blood, sweat, and tears for Kingfisher, I am truly sorry. I never imagined things would end this way,” he said, visibly emotional.
He also insisted that contrary to media portrayals, he never intended to run away from his creditors. “Why would I flee with nothing? Every rupee I earned was in India,” he said, adding that most of his wealth and assets are still tied up in the country and continue to be subjected to legal seizures and auctions.
His Case with Indian Banks: A Different Take
One of the most controversial aspects of Mallya’s saga is the Rs 9,000 crore he reportedly owes to Indian banks. During the podcast, Mallya was emphatic that the figure is often exaggerated and misunderstood. “I never took out money for personal luxuries. All loans were raised for Kingfisher Airlines,” he claimed.
He further explained that banks had already recovered a significant portion of the dues through asset seizures and sales. “If the government is honest, it will acknowledge that far more than the principal amount has already been recovered,” he asserted.
A Return to India?
Despite being declared a “fugitive economic offender” by Indian authorities, Mallya surprised many by saying he is willing to return to India—under certain conditions. “If I am assured of a fair trial and treated with respect and dignity, I will consider returning,” he said.
This declaration prompted immediate speculation in political and media circles. Is Mallya testing the waters for a possible settlement? Or is this a move to regain control of the narrative surrounding his name?
Many observers noted that this could be a subtle message to Indian authorities, signaling his willingness to negotiate terms. However, legal experts remain skeptical, pointing out that his extradition battle in the UK has already dragged on for years with little progress.
“Ease of Doing Business in India Is a Myth”
Perhaps the most provocative section of the interview came when Mallya criticized India’s business climate. Calling the much-touted “Ease of Doing Business” narrative a myth, he said, “Extreme bureaucracy is ingrained in the Indian DNA. No matter who is in power, the red tape doesn’t go away.”
Mallya recounted multiple instances when he felt that government agencies and banks were unwilling to back private enterprise during crises. He even revealed that the late Finance Minister Pranab Mukherjee had personally advised him not to shut down Kingfisher during its rough patch, promising that government-backed banks would extend support—a promise he claims was not fully honored.
His comments struck a chord with some entrepreneurs who often cite policy inconsistency and administrative delays as obstacles to scaling businesses in India.
Kingfisher Calendar, Bollywood, and Brand Power
In a lighter vein, Mallya discussed the now-iconic Kingfisher Swimsuit Calendar, which became a cultural phenomenon in the 2000s. “The calendar was not just about models; it was about lifestyle branding,” he said, proudly pointing out that it helped launch the careers of Bollywood stars like Deepika Padukone and Katrina Kaif.
For Mallya, Kingfisher wasn’t just an airline or a beer brand—it was a lifestyle movement. From high-profile Formula 1 sponsorships to owning an IPL team, he strategically placed the brand in spaces that exuded glamor and aspiration.
IPL and RCB: A Proud Chapter
Mallya also revisited his early involvement in the Indian Premier League, revealing that his initial bid was for the Mumbai Indians franchise. “But I ended up with RCB, and I don’t regret it,” he said. He spoke with pride about recruiting cricketing legends like Virat Kohli and Chris Gayle, helping shape Royal Challengers Bangalore into one of the most popular teams in the league.
Though he no longer owns the team, Mallya said he remains emotionally connected to RCB and is thrilled to see how the brand has evolved over the years.
Public Reaction:
Unsurprisingly, Mallya’s interview has divided public opinion. Some praised his honesty and self-reflection, arguing that he deserves a second chance. Others saw the interview as a strategic PR move aimed at softening his image ahead of potential legal developments.
Regardless of where one stands, the interview succeeded in reigniting conversations about the blurred lines between business failure and criminality, the media’s role in shaping narratives, and the systemic flaws in India’s governance and financial systems.
Vijay Mallya’s appearance on Figuring Out was more than just a media event—it was a complex, layered dialogue that offered insight into the rise and fall of one of India’s most controversial business figures. Whether one sees him as a misunderstood entrepreneur or a wilful defaulter, his voice—after a long silence—has added new dimensions to a story that is far from over.
As the legal drama unfolds, one thing is clear: Vijay Mallya is not ready to fade into the shadows just yet.