What caused Vijay Mallya to exit Kingfisher Red?
Vijay Mallya, whose cash-strapped Kingfisher Airlines cancelled scores of flights, drawing the ire of the government and travellers and spooking investors, said the competition at the full service level is lower than the no frills segment, so it was more financially prudent to focus on that segment. The decision to exit Red, he adds, was because of lower yields and better loyalty at higher end.
