Pilots return to work after Mallya promises salary by Aug 13

Mumbai: The striking Kingfisher Airlines pilots returned to duty on Thursday after chairman Vijay Mallya promised to pay their pending salaries by August 13, a report said. A section of the pilots called strike on Wednesday as a result of which, the airline had to cancel 31 flights. Shares of the airline went down by nearly 1 per cent as a result of the strike, the fourth one since February.
According to a Business Standard report published on Thursday, bankers and aircraft lessors to the airline have invoked corporate guarantees worth Rs 835 crore, outing much stress on United Breweries (UB) Holdings, Kingfisher's primary promoter-vehicle.
09/08/12 One India

To Read the News in full at Source, Click the Headline

Categories: Kingfisher Aug 2012