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Showing posts with label Kingfisher Airlines employees to meet Management. Show all posts
Showing posts with label Kingfisher Airlines employees to meet Management. Show all posts

Monday 22 October 2012

Kingfisher Airlines employees to meet Management



Striking employees of Kingfisher Airlines Sunday said they will meet the management to find a solution to the 20-day strike that has crippled operations and led the Directorate General of Civil Aviation (DGCA) to suspend the carrier's licence.
"We will hold a meeting with the management tomorrow (Monday) in Mumbai. We also want the airline to start operations and to become viable again," a senior official who is on strike told IANS in New Delhi.
"We will consider any offer presented by the airline which is logical and meets the minimum criteria of our demands," the official added.
Nearly, 6,500 employees of the airline face the possibility of losing their jobs if the airline continues to be in a state of lockout, which has been extended till Oct 23.
The average monthly wage bill of the airline is said to be around Rs.21 crore.
The employees went on a flash strike Oct 1 demanding payment of their salaries by by Oct 5, which have been pending since March.
They also claimed that non-payment of salaries has affected their morale and built up stress levels that can also affect operational safety.
Key personnel like aircraft maintenance engineers, whose airworthiness clearance is mandatory for any flight to take off, also struck work.
Civil Aviation Minister Ajit Singh said Saturday: "If they are not able to provide any concrete revival plans on how to restart operations and to pay their employees, then the DGCA may cancel their licence."
Singh's comments came after the DGCA suspended the airline's operating licence, citing its inability to provide any reasonable revival plans.
The airline Friday extended till Oct 23 the lockout declared Oct 1 after negotiations with striking employees failed.
The airline had the lowest market share in September, which stood at 3.5 percent. The airline has a total debt of Rs.7,000 crore from a consortium of banks.
Bankers are scheduled to hold a meeting Monday to decide on the fate of their exposure to Kingfisher Airlines. If they decide on writing off bad debt owed by the airline, it may have a negative impact on their quarterly performance and will also affect the scrip price in the equities market.
According to a report by the Centre for Asia Pacific Aviation (CAPA), Kingfisher Airlines may have to shut down operations if $600 million is not infused in it in the next two months.
The company reported a net loss of Rs.650.78 crore ($117 million) for the quarter ended June 30.
Currently, the airline has only 10 operational aircraft from a strength of around 66 planes a year ago. It was also the country's second largest airline by passenger traffic.
The company's scrip at the Bombay Stock Exchange (BSE) on Friday closed 4.58 percent down and stood at Rs.11.45 from its previous close at Rs.12.







Kingfisher Airlines employees to meet management
New York Daily News
New Delhi/Mumbai, Oct 21 — Striking employees of Kingfisher Airlines Sunday said they will meet the management to find a solution to the 20-day strike that has crippled operations and led the Directorate General of Civil Aviation (DGCA) to suspend the ...
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Kingfisher Airlines stops bookings, hopes to re-start operations soon
IBNLive
Troubled Kingfisher airlines, whose flying licence was suspended by the DGCA, on Saturday night said it has stopped taking booking of tickets till it resumes operations. "We are now immediately suspending all forward bookings till such time we resume ...
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Photo gallery: India's Kingfisher Airlines has its wings clipped
Straits Times
An Indian customer service representative stands inside the closed window of a Kingfisher Airlines booking counter at the airport in New Delhi on Oct 20, 2012. The flying licence of India's KingfisherAirlines was suspended after the debt-laden carrier ...
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India suspends Kingfisher licence
Financial Times
Indian aviation authorities have suspended the licence of struggling Kingfisher Airlines, nearly three weeks after the carrier was forced to cancel its own operations due to a revolt by staff. The director-general of civil aviation said the licence ...
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India Suspends Kingfisher's License
Airwise
Kingfisher Airlines' license was suspended on Saturday after it failed to address the Indian regulator's concerns about its operations, forcing the debt-laden carrier to stop taking bookings. Controlled by Vijay Mallya - the self-styled 'King of Good ...
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India- Kingfisher Airlines licence suspended, halts all bookings
MENAFN.COM
(MENAFN - Arab Times) Kingfisher Airline's licence was suspended on Saturday after it failed to address the Indian regulator's concerns about its operations, forcing the debt-laden carrier to stop taking bookings. Controlled by Vijay Mallya - the self ...
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Kingfisher stops bookings, but hopes to fly again soon
Firstpost
New Delhi: Kingfisher Airlines, whose flying licence was suspended by the Director-General of Civil Aviation (DGCA) on Saturday, said it had stopped taking booking of tickets till it resumes operations. “We are now immediately suspending all forward ...
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Firstpost
Mallyas fly high even as Kingfisher Airlines crashes
Oneindia
New Delhi, Oct 21: while the employees of the grounded Kingfisher Airlines (KFA), which recently saw its flying licence suspended by the DGCA, were struggling to maintain a minimum standard of livelihood, reports said that both Vijay Mallya, owner of...
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