Kingfisher calls partial lockout on labour disorder
Latest business news reveals that Kingfisher Airlines Ltd has declared a partial lockout and cancelled its flights. The company called off as labour’s disorder creates troubles for the debt-laden firm.
Yesterday, KFA was forced to cancel all its flights after company’s latest conflict with workers, sending Kingfisher Airlines stock down by its maximum every day limit.
In a statement issued by the company, it said, “Following a series of protracted and unabated incidents of violence, criminal intimidation, assault, wrongful restraint and other illegal acts including refraining from attending work … management has been forced to declare a partial lock-out at the airline, effective immediately.”
Kingfisher Airlines was country’s number two best domestic airline carrier so far, and the company is owned by Vijay Mallya. But now, the company faces bank loan of around $1.4 billion.
Earlier this week, India warned KFA that it would not allow permission to fly if they not accomplish safety rules.
Kingfisher Airlines said in a statement, “Kingfisher Airlines has more than a sufficient number of staff to safely operate its current schedule of flights as per the holding plan.”