Capt Gopinath should have sold airlines to the Tatas who would have made it one of the biggest airlines in India. Mallya is not exactly in the league of Tatas and looks at airlines as promotion for his main breweries business.
While Kingfisher may still do well, Tatas would have retained the low cost Deccan properly and they already have huge expertise in aviation through Taj Air and Taj SATS air catering. Capt Gopinath had also not done a good job of running the airline properly with an emphasis on costs only and ultimately he had to bow out.