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Showing posts with the label Infosys job cut

Due to Global Recession now Infosys and Kingfisher both are in Trouble :(

   A meeting between the management of Kingfisher Airlines and lenders to the company on Friday remained inconclusive. The core group of lenders, which met the airline’s management at the UB Group headquarters here, declined to give a no-objection certificate to the airline. In late October, the Directorate General of Civil Aviation ( DGCA) had suspended Kingfisher Airlines’ licence and urged the management to come up with a concrete revival plan. It had also advised the airline to hold discussions with various stakeholders before its licence could be renewed. The airline, which owes its lenders Rs7,500 crore, also has to pay dues of Rs250 crore to the Airports Authority of India. It also owes dues to aircraft lessors and a host of other vendors. The airline, going downhill since November 2011, has struggled to raise any debt or equity to revive itself. Late last year, Kingfisher Airlines had given a revival plan to the DGCA. It had stated the UB Group would infuse Rs