This refers to the edit “Let the market prevail” (November 14). Your stand on the issue of bailing out Kingfisher Airlines is absolutely correct. The civil aviation minister has sought government intervention on the grounds that competition in the sector needs to be promoted in the interest of customers. But who are these customers? The ones that constitute less than one per cent of our population? The airline is a public entity listed on the stock exchange and is operating a business that cannot be considered a priority by any standards. The days of directed lending are gone and most of the banks are now listed entities, answerable to public shareholders. Experts have already opined that Kingfisher Airlines may not return to the profit cycle even in the long term. So, where is the question of further assistance and throwing good money after bad?
K V Rao, Bangalore
Readers should write to:
The Editor, Business Standard,
Nehru House,
4, Bahadur Shah Zafar Marg,
New Delhi 110 002,
Fax: (011) 23720201;
letters@bsmail.in
All letters should have a postal address and telephone number
