Skip to main content

Posts

Showing posts with the label Kingfisher Airlines Thursday reached a settlement with employees by offering to clear three-months of overdue salary by mid-November.

Kingfisher Airlines Thursday reached a settlement with employees by offering to clear three-months of overdue salary by mid-November. The airline, controlled by Vijay Mallya, hadn’t paid most of them since March.

Kingfisher Airlines Thursday reached a settlement with employees by offering to clear three-months of overdue salary by mid-November. The airline, controlled by Vijay Mallya, hadn’t paid most of them since March. This ends a 25-day strike by the airlines pilots, engineers and technicians that forced the airline to cancel flights indefinitely. But the ailing carrier’s troubles are far from over. On Oct. 20, India’s aviation regulator suspended the Kingfisher’s license as the airline failed to produce a plan on how it will revive its operations. On Monday, Chief Executive Sanjay Aggarwal said it will take Kingfisher at least two weeks to submit a fresh operations plan. This means it will already have lost potential revenue for more than a month if it resumes operations as quickly as is feasible. The bigger problem for Kingfisher, however, is that taking to the air may not be the answer to its financial problems. Because of the high cost of jet fuel and low seat occupancy on