In 2005, when Mallya launched Kingfisher, he had the advantage of starting on a clean slate, with no legacy costs.
In his quest for market share and market dominance, Mallya tried to play the same game that many say he did in the liquor business where he gobbled up distilleries and rivals.
Here, Mallya snapped up loss-making Air Deccan in 2007.
While Deccan helped Kingfisher boost its airport slots and allowed Mallya's airline to scale up and grab 20 per cent market share, the surge in oil prices and over-capacity in 2008 clobbered the airline.
In fact, the scorching pace at which Kingfisher grew was precisely its Achilles heel, leading to heavy losses.
Image: Mallya (C) walks in the cabin during a special flight carrying invitees and journalists, in Bangalore on May 08, 2005.