I flew for KFA and I while I was there I thought: the equipment was good to excellent (mostly new) and very well maintained; The service was very good to sometimes excellent; Most of the time we were on time. We had high load factors, and for awhile either carried the highest percentage of pax in the country or were consistently the second highest, and people seemed to like flying on "us". How they did this I do not know because behind the scenes it was absolute chaos! (And I've been/lived in India before, this was unique even for what's normal there) However, the company bled money all the time. Some say the Deccan merger was the reason, or the this or that, but with the loads we carried I couldn't help thinking maybe there was some high level siphoning.