Indian regulators have asked Kingfisher Airlines to explain why their license shouldn't be revoked as a strike forces the cash-strapped carrier to cancel flights through Friday.

Indian regulators have asked Kingfisher Airlines to explain why their license shouldn't be revoked as a strike forces the cash-strapped carrier to cancel flights through Friday.

Kingfisher said in a statement late Friday that it would respond to the notice within 15 days and submit a "comprehensive plan for restoration of services after negotiations with our employees."

Flights have been grounded since Monday, as employees angry about not being paid for up to seven months refuse to work.

Authorities have been criticized for not acting earlier to protect passengers from flight cancellations and the hazards of stressed pilots and engineers who haven't been paid in months.

Civil Aviation Minister Ajit Singh said Friday that the carrier has passed all safety audits.

"From a safety point of view, there are no problems," he told India's NDTV.

The chairman of the State Bank of India, one of Kingfisher's main creditors, told reporters Friday that lenders have agreed to release 600 million rupees ($11.6 million) to help pay back salaries, after the income tax department unfroze the airline's bank accounts.

"The money that has been released by the tax authorities, 80 percent of that will be made available to the company on humanitarian grounds, specifically to pay salaries of the employees," SBI chairman Pratip Chaudhuri told the Press Trust of India.

The Center for Asia Pacific Aviation, an airline industry research group, puts Kingfisher's outstanding debt at $2.5 billion, including about $1.1 billion in bank debt, and says its accumulated losses swelled to $1.9 billion by the end of June.

Kingfisher spokesman Prakash Mirpuri declined to comment on the release of funds.

Kingfisher gears up to resolve crisis The Hindu The management of Kingfisher Airlines has expedited the process of convincing its employees to resume work by considering partial payment of their salaries. The management is now willing to pay as the unrest is spilling over to the streets and licence ... See all stories on this topic »

Govt not soft on Kingfisher; didn't bail them out: Ajit Singh NDTV Interactive Transcript. Loading... Alert icon. Sign in or sign up now! Alert icon. Loading... There is no Interactive Transcript. Published on Oct 5, 2012 by ndtv. Aviation Minister Ajit Singh talks exclusively to NDTV about the crisis-hit Kingfisher ... See all stories on this topic »

We Mean Business: Will Kingfisher be able to fly again? NDTV In the latest episode of We Mean Business, NDTV's Shweta Rajpal Kohli, M.K. Kaw, Former Civil Aviation Secretary and Former Secretary Education, Kapil Kaul, CEO- South Asia, CAPA, Kanu Gohain, Former Director, Jitendra Bhargava, Former ED, Air India, ... See all stories on this topic »

Body of Kingfisher employee's wife handed over to family The Hindu The body of 45-year-old Sushmita Chakravorty, the wife of a technician with theKingfisher Airlines who allegedly committed suicide by hanging herself at her Manglapuri residence here on Thursday, was handed over to her family after post-mortem on Friday. See all stories on this topic » Regulator Acts Against India's Kingfisher Airlines ABC News Indian regulators have asked Kingfisher Airlines to explain why their license shouldn't be revoked as a strike forces the cash-strapped carrier to cancel flights through Friday. Kingfisher said in a statement late Friday that it would respond to the ... See all stories on this topic » The Hindu

A Tale From Kingfisher's Front Lines Wall Street Journal (India) (blog) Once upon a time not too long ago (last weekend) in a place not too far away (New Delhi), my husband and I decided to go to Dharamshala. Since trains were fully booked, we decided to fly. Since Kingfisher Airlines was the only one plying the route, our ... See all stories on this topic »

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Geek Positive: A Geek Culture Podcast CSICON (blog) Please give us your feedback in the comment field below or via an e-mail to GP@CSICON.org and tell us what it is you think of the show, what can be improved, what is perfect, what needs changing, or even what needs to be added or removed. Thanks a lot ... See all stories on this topic »

Housing Fever Can Work Both Ways New York Times THE boom and bust in the housing market was a dual social epidemic. First, there was an epidemic of positive thinking that led to high expectations for long-term home price appreciation — and for the economy, too. Then, after 2005, an epidemic of ... See all stories on this topic »

Positive Vibes From Adkins Vitalfootball 'We're under no illusions, Fulham are going to be a tough team to beat. We don't think we're just going to turn up and win. It's a match you can lose, but one we're going to go and win. You have to be positive at home and we've got to be at the top of ... See all stories on this topic »

Orioles' versatile bullpen has been a huge positive Newsday The relievers have been the constant. "There's power, there's deception, there's lefthanders, there's righthanders, and I think it takes all those things,'' Yankees manager Joe Girardi said Saturday. "You have guys that have the ability to get double... See all stories on this topic »

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Job numbers up, but recession unemployment persists CBS News "Think about what we've come off of, the deepest part of post-war recession, and we're adding 100,000 jobs a month," Meyer said. "It's not sufficient." Much of the drop in unemployment rate is attributed to the growth in part-time jobs. Amie Crawford ... See all stories on this topic » CBS News

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“You Don't Raise Taxes In A Recession” The Plank on TNR.com (blog) The United States wasn't in recession in 2010. It was in recovery. A weak recovery, to be sure, but by the start of 2010 the recession had been over for more than six months. Why would Obama be talking about what you do in a recession when the ... See all stories on this topic » The Plank on TNR.com (blog)

Gamesys: Jackpotjoy Reveals: Brits are in a Laughter Recession! Sacramento Bee New independent research commissioned by leading entertainment website Jackpotjoy.com, reveals that Brits are experiencing a 'laughter recession'. In the last 60 years 2010 has been voted the least fun decade. This is why Jackpotjoy launches its new ... See all stories on this topic »

Women have been slower to get jobs back than men, but they're starting to pull ... Washington Post (blog) Delicious. Men have lost more jobs than women over the course of the recession—in large part because male-dominated industries like construction have suffered some of the most dramatic drops. But male employment has also recovered at a faster pace. See all stories on this topic »

The Unemployment Rate Drop Does Not Change My Recession Outlook Business Insider Employment is above the total just prior to the 2001 recession, and about where it was in 2005. Nonfarm Employment - Payroll Survey Monthly Changes - Seasonally Adjusted click on any chart for sharper image. Between January 2008 and February 2010, ... See all stories on this topic »

BoJ stands pat, keeps powder dry as recession risk looms Business Recorder (blog) Despite mounting signs that sagging exports to China and Europe may nudge Japan into recession, central bankers preferred to wait and assess the effect of stimulus unveiled just last month, and save their limited options for now. Underscoring ... See all stories on this topic »

Number of the Week: 2.4 Million Found Jobs Last Month Wall Street Journal (blog) The second thing that becomes clear is how great a disruption the recent recession created. Throughout the 1990s and 2000s, certain aspects of the monthly job movements were remarkably consistent: A quarter to a third of the unemployed found jobs each ... See all stories on this topic »

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Five Big Mistakes Mutual-Fund Investors Make

Debt-focussed mutual funds can invest in housing finance firms The Hindu The Securities and Exchange Board of India (SEBI), on Saturday, allowed debt-orientedmutual fund schemes to invest in housing finance companies (HFCs). “Additional exposure to the financial services sector (over and above the existing 30 per cent) not... See all stories on this topic » The Hindu

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Fund Investors Are Nearing the Edge, Too New York Times The approaching fiscal cliff, she added, may provide a good excuse for investors to focus on mutual funds that are managed to limit portfolio turnover. When managers buy and sell less often, costs are kept down, as well as the taxable gains that ... See all stories on this topic »

Mutual Fund Investors, Flying Again but Feeling Dizzy New York Times They contend that neither the economy nor the stock market is out of the woods. Henry J. Herrmann, chief executive of the fund management firm Waddell & Reed, questioned whether investors would “want to be jumping into the equity market at this ... See all stories on this topic »

For Three Top Funds, the Paths to Success Don't Cross New York Times By TIM GRAY. Published: October 6, 2012. OIL refineries, all-terrain vehicles and European banks would seem to share little, but they helped to provide good returns to managers of three of the better-performing mutual funds of the third quarter. See all stories on this topic » New York Times

Fund Talk - Focus on long-term goals Business Line I am planning to start an SIP in three mutual funds. My short-term goals require me to raise around Rs 8-10 lakh within the next five years or so. My long-term goals require me to accumulate around Rs 30 lakh in the next 10-12 years. What type of funds ... See all stories on this topic »

Transparent, but more expensive Business Standard The Securities and Exchange Board of India's (Sebi) new guidelines for mutual funds became effective from October 1. These guidelines have triggered a flurry of activities as all the stakeholders are busy understanding and implementing them. With the ... See all stories on this topic »

Small plane crash near downtown Birmingham

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Best seat to be sitting in during plane crash CBS News And so the airplane was flown - it was down in Mexico - over to the crash site. And then the three pilots transferred control of the airplane over to a remote control system and they parachuted out, and then a chase airplane that was operating the ... See all stories on this topic »

Gary plane crash victims from Florida Chicago Sun-Times Two St. Augustine, Fla., men have been identified as the victims of Wednesday's small-plane crashin Gary, according to the Lake County Coroner's Office. Remains from the crash have been positively identified through dental records as Vincent ... See all stories on this topic »

Family rescued from plane crash thanks emergency responders Northwest Cable News BOISE -- After a plane crash and rescue from the Owyhee Mountains, a California family was back in Idaho today, to say 'thank you' to their rescuers. Saturday afternoon, Brian Brown, his wife Jayann, and their daughter Heather were having lunch at ... See all stories on this topic »

Plane crash elevates pilot to fame Plattsburgh Press Republican PLATTSBURGH — Since Theodore "Ted" Wright's plane crashed in the Gulf of Mexico, the last place one might expect to see him is soaring through the sky on a jetliner. But the Port Kent native's epic story of skill and survival captivated the media's ... See all stories on this topic »

2 suffer minor injuries in Maine small plane crash Boston.com LYMAN, Maine (AP) — Two people have suffered minor injuries in a small plane crash in Lyman, Maine. The crash was reported at about 8:45 a.m. Saturday. Federal Aviation Administration spokesman Jim Peters said the home-built plane had taken off from ... See all stories on this topic »

Bodies still at vintage plane crash scene Herald Sun POLICE say they hope to soon complete their investigation at an isolated crash site in southeast Queensland, where a vintage plane went down killing six people. Steep and difficult conditions have slowed the retrieval of the victim's bodies but police ... See all stories on this topic »

Plane crash aids science Lansing State Journal For anyone who has toyed with a model plane or a remote-control car, this was the ultimate adventure. People spent millions to buy a former airliner and crash it on the desert. They recorded everything, for the benefit of science. “That's probably the ... See all stories on this topic »

Small plane crash near downtown Birmingham CBS42 Small plane crash near downtown Birmingham. Video; Images. PLANE CRASH VO. 2nd ave N and 28th street N (Tiffany Westry). Reported by: Tiffany Westry. Email: twestry@cbs42.com. Published: 12:56 pm. Updated: 3:50 pm ... See all stories on this topic »

Cloud Computing in the European Union

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Synnex CEO Kevin Murai: Tablets, Mobile, Cloud Computing (p3) The VAR Guy Synnex CEO Kevin Murai describes challenges and opportunities for VARs, managed services providers (MSPs) and cloud integrators during Synnex National Conference 2012. He mentions the tablet, cloud computing and managed IT services and ... See all stories on this topic »

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7 reasons why Europe really matters to cloud computing GigaOM We'll discuss many of the finer points of European cloud computing and web infrastructure at our Structure: Europe event Oct. 16 and 17 in Amsterdam, both business and technological. To whet your appetite, though, here are seven reasons why Europe is a ... See all stories on this topic » GigaOM

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ArcusIT's Jojo Colina: 'Showcasing IT as best practice and best business ... Manila Standard Today For the Filipino-owned and operated Cloud computing firm ArcusIT, its continuous relationship with its clients is hinged on its clients' success; spelling the difference between a traditional IT provider and a Cloud provider. “We are much closer to a ... See all stories on this topic »