SBI said that it has disappointed with Kingfisher Airlines’s funding raising plans as the airline has needed to infuse $1 billion.
The largest lender of KFA, SBI to whom airline have to pay Rs 1580 crore and the interest, announced to willing to support KFA as a going concern and for that it has likely given KFA time till November 30 to infuse equity. Read more
Situation went more tensed when the agitated employees rejected Kingfisher Airlines management’s offer of payment of three months’ salary, an attempt to end the 23-day-old strike.
Recent move by KFA just before Diwali festival has failed to change the employees’ move to wash out a long strike for non payment of seven months salary. Under the offer, the management would paid the salary dues of one month in 24 hours, while other would be followed by instalments that fully clear till Diwali on November 13. Read more
At that time when KGA airline is struggling with ending phase to be grounded at any time, the owner o the airline Vijay Mallya is said to be busy with his son Siddhart with other preoccupations abroad.
While cash stripped KFA’s flying licence have been suspended by the DGCA, also ticket booking have blocked till it resumes operations, there is no threatening expression have seen in Mallya . Read more
The cash beleaguered Kingfisher Airlines is likely to face the toughest phase in its journey as Directorate General of Civil Aviation (DGCA) seeks to suspend its flying licence today.
Being failed in presenting a reliable turnout plan on resolving the 21-day row with its employees over non-payment of seven-month salary dues as well as efficient response over DGCA deadline tag show cause notice as it extended its lockout till October 23, KFA has asked life breathing time to reply to the notice. Read more
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