New Delhi: Kingfisher Airlines Ltd expects to resume operations in four or five days after around 100 staff in Delhi agreed to return to work, an executive with the cash-strapped carrier told reporters on Thursday.
Kingfisher, once India's second-largest airline, is half a year behind on salary payments and has grounded its fleet since Monday after a protest by engineers over the weekend turned violent, according to the heavily indebted carrier.
The shutdown has further dimmed the outlook for the airline controlled by liquor baron Vijay Mallya. Kingfisher has never turned a profit since its founding in 2005 and is saddled with $1.4 billion in debt, owed mostly to government banks led by State Bank of India.
"About 100 people here agreed to return to work unconditionally," Sanjay Bahadur, vice president of corporate affairs, told reporters following a meeting in Delhi between management and members of staff.
04/10/12 Reuters/Business Standard
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Kingfisher, once India's second-largest airline, is half a year behind on salary payments and has grounded its fleet since Monday after a protest by engineers over the weekend turned violent, according to the heavily indebted carrier.
The shutdown has further dimmed the outlook for the airline controlled by liquor baron Vijay Mallya. Kingfisher has never turned a profit since its founding in 2005 and is saddled with $1.4 billion in debt, owed mostly to government banks led by State Bank of India.
"About 100 people here agreed to return to work unconditionally," Sanjay Bahadur, vice president of corporate affairs, told reporters following a meeting in Delhi between management and members of staff.
04/10/12 Reuters/Business Standard
