Mallya says aircraft reconfiguration will give us incremental revenue generation opportunities. He says there is a need for foreign direct investment in the aviation industry and the government should permit it. "FDI is allowed in Greenfield Airports, why not in aviation," he asks.

Mallya admits that he should have handled the situation better, instead of allowing the media to arrive at its own decision regarding Kingfisher and the so-called bailout.

"We have repaid Indian Oil and BPCL in full, don't owe them a single paisa. But the problem of fuel is greatly compounded in India and the import of fuel should be the last resort, " says Mallya. 

"We have not asked the government for a bailout," adds Mallya. .