In a rare and revealing interview after nearly a decade of silence, liquor baron and former Kingfisher Airlines chief Vijay Mallya has broken his media blackout, speaking out on Raj Shamani’s popular podcast Figuring Out.
The four-hour-long episode, released this week, sees Mallya defend his legacy, criticize the media, and express willingness to return to India—if assured of a fair trial.
“I have been abused, called names, and used as a lightning rod for public anger,” Mallya said.
“The media trial against me has been relentless. But now, I have a platform to tell my side of the story without spin.”
He claimed that his intentions were always to repay the loans taken for Kingfisher Airlines, and pointed to a recent statement by the Finance Ministry claiming Rs 14,100 crore had been recovered from him—more than double the Rs 6,203 crore Debt Recovery Tribunal judgment.
“If I had really defrauded the banks, how did the government recover so much money?” he asked.
Mallya laid blame on the government of the time for asking him not to downsize the airline during the 2008 financial crisis. He recalled a conversation with then Finance Minister Pranab Mukherjee, who allegedly asked him to keep operations running for the sake of connectivity and employment, with the promise that banks would continue to support him.
He also defended the 2007 acquisition of low-cost carrier Air Deccan, saying it was a strategic move to eliminate a market disruptor offering unsustainable Rs 1 fares, which distorted customer expectations and eroded industry margins. Mallya, who now lives in London and fighting extradition to India in UK courts, said that the biggest contribution of Kingfisher Airlines was opening up of several new airline routes.
Public anger, Mallya said, was also fueled by perceptions of his lifestyle, including a lavish 60th birthday party and alleged overseas investments. “I apologise publicly for the failure of the airline,” he said, but rejected suggestions that he siphoned funds. “I made four settlement offers to the banks. None were accepted.”
Mallya hinted at a willingness to return to India if he could be assured of due process. “If I am assured absolutely [of a fair trial], I will think about it seriously.”