Abstract
Icarus, a Greek mythical character, is fabled to have plunged to his death in the Aegean Sea due to his own overconfidence and follies. Now management literature has adopted this fable and has extensively used to denote paradoxical decision-making in business. The present case analyses the rise and fall of the Indian air company Kingfisher Airlines Ltd (KFA) and its promoter the flamboyant Mr Vijay Mallya. The author draws parallel between Icarus and KFA, and presents how both met the same fate due to misplaced overconfidence. A few suggestions for organizations to tide over Icarus paradox are also presented.