No money to pay salary, Kingfisher Airlines tells unpaid staff

New Delhi: 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 penny 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.
04/08/12 Saurabh SInha/Times of India

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Categories: Kingfisher Aug 2012