Mumbai: Shares of Kingfisher Airlines tumbled by 4.6 per cent on the bourses in the morning trade after the employees rejected the airline's offer of payment of three months' salary. The scrip of the debt-laden carrier fell by 4.59 to hit the lower circuit limit of Rs 10.40 in the opening trade on the BSE. Similar movement was seen on the National Stock Exchange, where stock dropped by 4.61 per...
11:39 AM, Oct 23, 2012
New Delhi: Civil Aviation Minister Ajit Singh has refused to intervene in the Kingfisher Airlines mess. He said Kingfisher is a privately owned company and so the government can't intervene and make the airline pay staff salaries. He also said that the payment alone will not be enough to make Kingfisher fly. "It is a private company, doesn't come under any ministry. Yes they have a problem, but the government...
11:24 AM, Oct 23, 2012
New Delhi: It seems to be the end of good times for crisis-hit Kingfisher Airlines. Kingfisher's efforts to take off crash landed after it's 6,000 plus employees, who haven't been paid in the past seven months, refused the management's offer of three months' salary before Diwali. They say it's an eyewash and want chairman Vijay Mallya to come to the talking table. Speaking to IBN18 Editor-in-Chief Rajdeep Sardesai, Kingfisher employee...
07:32 AM, Oct 23, 2012
Catch today's top stories with CNN-IBN Editor-in-Chief Rajdeep Sardesai. ...
11:45 PM, Oct 22, 2012
Kingfisher Airlines CEO Sanjay Agarwal on Monday said that the partial lockout of the crisis-hit airlines had been extended till October 25 from the earlier date of October 23. ...
11:14 PM, Oct 22, 2012
Kingfisher Airlines CEO Sanjay Agarwal on Monday said that the partial lockout of the crisis-hit airlines had been extended till October 25 from the earlier date of October 23. The airline company on Monday held a closed-door meet with its employees' union in Mumbai and offered to pay three months' salary before Diwali. The employees, however, have rejected the offer, saying they wanted four months' salary in a day or ...
10:05 PM, Oct 22, 2012
New Delhi: So how exactly was Kingfisher Airlines killed? The airline company was Chairman Vijay Mallya's muse. He chose to run it himself, even deciding to interview air hostesses, pilots and other staff members himself. So did this obsession lead to the company's decline? Apart from Mallya, few others were allowed to run the show. Smallest decisions had to wait for the Chairman's go-ahead, say management insiders. However, the real...
09:17 PM, Oct 22, 2012
New Delhi: Kingfisher Airlines CEO Sanjay Agarwal on Monday said that the partial lockout of the crisis-hit airlines had been extended till October 25 from the earlier date of October 23. The airline company on Monday held a closed-door meet with its employees' union in Mumbai and offered to pay three months' salary before Diwali. The employees, however, have rejected the offer, saying they wanted four months' salary in a...
08:15 PM, Oct 22, 2012
Mumbai: The impasse in the crisis-hit Kingfisher Airlines continued on Monday after a section of its employees rejected its offer of three months' salary before Diwali and demanded that their four months salaries be paid within a day or two. Satish Chandra Mishra, a Kingfisher employee said that the staff members will not join work until their dues were cleared. Questioning the silence of Chairman Vijay Mallya, Mishra said that...
06:45 PM, Oct 22, 2012
New Delhi: The crisis in the Kingfisher Airlines may have been reduced a bit after its striking employees on Monday agreed to take it three months' salary offer. A final decision from the management on the resumption of flight operations, however, is awaited. The ailing airline company on Monday offered to pay one month salary to its employees in 24 hours during a closed-door meet with the representatives of its...
06:25 PM, Oct 22, 2012
Mumbai: The ailing Kingfisher Airlines on Monday offered to pay one month salary to its employees in 24 hours during a closed-door meet with the representatives of its pilots' and employees' unions. Sources said that the airline company further offered to pay the second month salary within a week and the salaries for the third month before Diwali. However, the staff members are said to be unhappy with the offer,...
04:13 PM, Oct 22, 2012
New Delhi: In fresh trouble for cash strapped Kingfisher Airlines, at least 15 planes leased to them have been stripped clean, the leasing company sources told CNN-IBN. The 15 aircraft have been stripped of crucial parts at various airports and have been declared not fit to fly. Sources said that inspection of two aircraft in New Delhi found the passenger and cockpit interiors cleaned out. Airport authorities refused to take...
01:00 PM, Oct 22, 2012
Mumbai: Kingfisher Airlines stock fell nearly 5 per cent on Monday to touch the lower circuit limit after its flying licence was suspended by the DGCA late last week. The scrip of the financially-troubled company was down 4.8 per cent and hit the lower circuit limit of Rs 10.90 soon after the opening trade on the BSE. Similar was the trend at the NSE, where the stock plunged 4.82 per...
10:49 AM, Oct 22, 2012
Mumbai: Facing the real possibility of a shut down, cash-strapped Kingfisher Airlines will make one last attempt to convince its 4000 employees to return back to work on Monday. The management is slated to hold talks with them in Mumbai. This comes three days after the Directorate-General of Civil Aviation (DGCA) suspended its licence - putting the airline in further jeopardy. The employees have been seeking payments of all pending...
08:38 AM, Oct 22, 2012
New Delhi/Mumbai: Striking employees of Kingfisher Airlines on Sunday said they will meet the management to find a solution to the 20-day strike that has crippled operations and led the Directorate General of Civil Aviation (DGCA) to suspend the carrier's licence. "We will hold a meeting with the management tomorrow (Monday) in Mumbai. We also want the airline to start operations and to become viable again," a senior official who...
12:29 AM, Oct 22, 2012
Aviation regulator DGCA on Saturday suspended the licence of the financially-troubled Kingfisher Airline. ...
05:45 PM, Oct 21, 2012
Mumbai: Lenders to Kingfisher Airlines, whose combined exposure of nearly Rs 7,500 crore is at risk, have said they will go in for recovery measures only as the last resort and expressed hope that its promoters will be able to find an investor and resume operations. Aviation regulator DGCA on Saturday suspended the licence of the financially-troubled airline. "At best, we will be able to recover just 10-15 per cent...
05:18 PM, Oct 21, 2012
New Delhi: Troubled Kingfisher airlines, whose flying licence was suspended by the DGCA, on Saturday night said it has stopped taking booking of tickets till it resumes operations. "We are now immediately suspending all forward bookings till such time we resume operations," Kingfisher spokesperson said in a statement, adding it's "our endeavour to re-start operations at the earliest and we assure you we are working towards achieving this". Meanwhile Kingfisher's...
08:52 AM, Oct 21, 2012
New Delhi: Troubled Kingfisher airlines, whose flying licence was suspended by the DGCA, said on Saturday night it has stopped taking booking of tickets till it resumes operations. "We are now immediately suspending all forward bookings till such time we resume operations," Kingfisher spokesperson said in a statement, adding it's "our endeavour to re-start operations at the earliest and we assure you we are working towards achieving this". The airline...
10:03 PM, Oct 20, 2012
New Delhi: It could be the beginning of the end for Kingfisher Airlines. The crisis-hit company, under lockout since September end, had his licence suspended on Saturday by the aviation watchdog, the Directorate General of Civil Aviation (DGCA). This means an immediate halt on bookings, followed by the staff intensifying their protests for their dues. The DGCA on Saturday said that the suspension will stay till it is convinced that...
09:00 PM, Oct 20, 2012
