Mumbai: The employees of the grounded Kingfisher Airlines, who were on a hunger strike, called it off on Friday evening though airline chairman Vijay Mallya reportedly expressed inability to pay salary arrears. The agitation was called off after the second round of meeting between the employees and airline CEO Sanjay Agarwal, sources said.
Earlier in the day, Mallya reportedly told the agitating employees, who were on a hunger strike since yesterday, that he did not have money to pay them. "I don't have the money to pay your salary dues, because I cannot use the proceeds from the United Spirits-Diageo deal for this because of injunction from the Karnataka High Court," Mallya reportedly told the striking employees.
CEO Agarwal refused to talk to the reporters this evening at the Kingfisher House here. But employees called off the agitation as management agreed to continue to have dialogue with them, sources said.
Salaries have not been paid since last August. Last November, Mallya clinched a deal with British liquor major Diageo to sell majority 53.4 per cent stake in United Spirits for Rs 11,166 crore....
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10:25 PM, Jun 07, 2013
Mumbai: Three more senior executives of Kingfisher Airlines, including its chief information officer, have quit the grounded carrier even as a section of its pilots are set to revive their agitation over non-payment of salaries. "The airlines' chief information officer Saurav Sinha, flight operations head Capt Ronald Nagar and cabin crew head Ajit Bagchi have put in their papers recently," Kingfisher Airlines sources told PTI. Their resignations come close on...
01:37 PM, Jun 02, 2013
Mumbai: Banks will continue to sell pledged shares of Kingfisher Airline and invoke all other securities till they get back the dues, SBI Chairman Pratip Chaudhuri said on Tuesday. State Bank of India is the leader of consortium of lenders to grounded airline Kingfisher. "We have given instructions to recover and enforce all the securities. Our intention is to sell everything...all means of recovery (will be employed)...nothing would escape. Till...
10:16 PM, Apr 16, 2013
New Delhi: After remaining grounded for over six months, Kingfisher Airlines on Wednesday sought regulatory approvals to relaunch its operations and submitted plans to the DGCA on infusion of funds and revival of its flights. "We have shared the funding and traffic plans. The initial funding to restart the airline will come from the (parent UB) Group. We have also requested that our (flying) licence be renewed," the airline's CEO...
06:27 PM, Apr 10, 2013
Two days before the season six of the Indian Premier League begins, Kingfisher airlines employees have planned to stage a protest on Monday. Many of them are planning to hold a protest outside the Delhi residence of cricketer Virat Kohli. ...
12:58 PM, Apr 01, 2013
The Supreme Court has dismissed a petition filed by Kingfisher Airlines challenging the Karnataka High Court order directing it to pay over Rs 350 crores of tax deducted at source (TDS). The company contended in its petition that the amount due is much less than the demand made by the IT Department and the department had not given it a proper opportunity to hear its case. ...
03:02 PM, Mar 08, 2013
India will make it easier for leasing and finance firms to reclaim planes used by Kingfisher Airlines, two government sources told Reuters, after complaints that India was complicating the process. ...
04:28 AM, Mar 06, 2013
The government said it will give away Kingfisher Airlines' slots and foreign flying rights to other operators in the latest blow to the grounded carrier. Kingfisher, controlled by liquor baron Vijay Mallya, has been halted due to a cash crunch, and lenders are trying to recover $1.4 billion of loans in default. ...
09:49 AM, Feb 26, 2013
Government lender State Bank of India (SBI) on Monday said its increased non-performing assets (NPA) are due to its exposure to iron, steel and textile sectors while recovering the dues from Kingfisher Airlines will be a protracted legal affair. ...
03:21 AM, Feb 19, 2013
UB Group, the parent of debt-laden Kingfisher Airlines, said it was in talks with lenders to the carrier to cut their exposure by using proceeds from a stake sale in a group company to Diageo Plc. ...
02:03 PM, Feb 15, 2013
Kingfisher lenders hope to recover up to Rs 1,000 crore of their dues by monetising the securities in the March quarter itself, a senior official of SBI said on Thursday. "That (selling the securities given as collaterals) is the plan," Shyamal Acharya, SBI Deputy Managing Director (Mid-Corporates Accounts), said at the bank's December earnings press conference in Mumbai. ...
02:58 AM, Feb 15, 2013
Kingfisher lenders on Tuesday finally decided to start the recovery process for Rs 7,500-crore loans given to the grounded airline, a top official of State Bank of India said. ...
10:17 PM, Feb 12, 2013
Kingfisher lenders will give all chances to the grounded airline to restart operation even as bankers are concerned over their outstanding dues, SBI Chairman Pratip Chaudhuri said on Monday. The chief of State Bank of India, which heads the 17-member lenders' consortium, also said, "We don't give up hope till they say no." ...
03:21 AM, Feb 12, 2013
With the revival plan of grounded Kingfisher Airlines getting nowhere, its lead lender State Bank on Saturday said the creditors will meet in a fortnight to decide the future course of action to secure their money even as the airline chairman Vijay Mallya met employees to reassure them of the plan. ...
03:40 AM, Feb 10, 2013
Kingfisher Airlines(KING.NS) needs at least 10 billion rupees to restart its grounded operations and must also demonstrate an ability to sustain itself for at least 6 months, Civil Aviation Minister Ajit Singh said on Tuesday. ...
01:59 AM, Jan 23, 2013
Mumbai-based pilots of grounded Kingfisher Airlines on Monday served it an ultimatum to clear their dues by January 31 or face another winding-up petition even as the beleagured management on Monday appealed to its Delhi-based engineers not to resort to any legal action. ...
04:42 AM, Jan 22, 2013
Former Kingfisher Airlines pilots have sent a legal notice to the management seeking compensation for mental harassment and salary dues, according to sources. The management has been given a period of 21 days to comply with the notice. ...
11:43 AM, Jan 21, 2013
A meeting between the core lenders group and the grounded Kingfisher Airlines, which is trying to resume operations by February, ended inconclusively in Mumbai on Friday evening, as the airline failed to table a concrete revival plan. ...
09:27 PM, Jan 18, 2013
Kingisher Airlines' planned investment of Rs 650 crore is not enough to restart operations at the grounded Indian carrier, a senior government source said on Friday. ...
11:42 AM, Jan 11, 2013
Beleaguered Kingfisher Airlines on Wednesday faced fresh trouble with its employees deciding to move court seeking a formal closure of the company if it did not spell out future plans giving a time-line for clearing their salary dues of eight months. ...
05:32 PM, Jan 09, 2013
