Kingfisher Airlines has no money to pay salary to unpaid staff

There's no end in sight for troubles at crisis-ridden Kingfisher even as its listed peers, Jet and SpiceJet, have flown into black from deep red in Q1 this fiscal.

Vijay Mallya-promoted airline's stock touched a new life low of Rs 8.94 on the BSE on Friday before closing at Rs 9.15 following a stormy meet between a section of unpaid employees and the airline management on Thursday.

"We met airline CEO Sanjay Aggarwal and were clearly told that the airline has no money as of now for paying us; the accounts are seized and now some word on fund infusion or any other decision would come only when Mallya returns to the country," said an employee. The CEO is learnt to have admitted that over 100 employees, including pilots, engineers and others, were yet to be paid their February salaries. All employees are now waiting for their March salaries and they will meet on Monday to decide their strategy as per a report in TOI by Saurabh Sinha.

A senior official close to the airline management confirmed the employees meeting Aggarwal on Friday. "They wanted to know when the March salaries would be paid. The airline's difficulties were explained to them and their cooperation was sought," he said. The aviation ministry has come to the airline's aid by declaring that no action can be taken against an airline for "mere no-payment of salaries."

» Read Complete News.....

(You need to login first to read complete news).
New User? Register for FREE!
» Back to Travel News