|Kingfisher Airlines turns to divine forces|
|Monday, 14 May 2012 00:00|
“With no signs of his troubles abating, the Kingfisher Airlines chairman was reportedly advised to conduct this ritual,” DNA said.
Kingfisher has debts pegged at US$1,2 billion and is threatened with bankruptcy. Its market share has plummeted, staff have gone unpaid and many travel agents have stopped taking bookings on its dwindling fleet of aircraft. But Mallya’s appeal to esoteric powers to help with his predicament is far from unusual in India, where free-market capitalism is often infused with mysticism and astrology.
Mukesh Ambani, India’s richest man, often talks about spirituality as a “tool to enhance productivity”. The reclusive billionaire is known to consult astrologers and decide upon an auspicious time for the launch of any new business, as was the case with the Reliance Fresh convenience stores that started operations in 2006. Kishore Biyani, a retail giant who pioneered supermarkets in the country, believes traditional Hindu mythology holds a number of management lessons for India Inc. Armed with this conviction, he appointed mythologist Devdutt Pattanaik as his group’s “chief belief officer” whose job is to express “modern management ideas through symbolism and vocabulary of ancient mythology”. — AFP.