Ailing Kingfisher Airlines tonight extended its partial lockout by a week till October 12 as talks between its management and employees failed to break the deadlock over non-payment of salaries for the last seven months.
The beleaguered airline, meanwhile, got some reprieve as bankers agreed to release funds from escrow accounts, which is likely to release up to Rs60 crore for the carrier.
In an apparent fallout of the worsening crisis in Vijay Mallya-owned private carrier, the wife of one of its Delhi- based employees allegedly committing suicide, blaming financial stress due to non-payment of salary to her husband for five months.
The airline also announced in the National Stock Exchange that its Company Secretary Bharath Raghavan has quit the company.
Regretting that the "illegal strike" by a section of the airline employees has still not been withdrawn and normalcy yet to be restored, a late night statement by Kingfisher said it is constrained to extend the partial lock-out upto October 12.
04/10/12 PTI/Daily News & Analysis
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The beleaguered airline, meanwhile, got some reprieve as bankers agreed to release funds from escrow accounts, which is likely to release up to Rs60 crore for the carrier.
In an apparent fallout of the worsening crisis in Vijay Mallya-owned private carrier, the wife of one of its Delhi- based employees allegedly committing suicide, blaming financial stress due to non-payment of salary to her husband for five months.
The airline also announced in the National Stock Exchange that its Company Secretary Bharath Raghavan has quit the company.
Regretting that the "illegal strike" by a section of the airline employees has still not been withdrawn and normalcy yet to be restored, a late night statement by Kingfisher said it is constrained to extend the partial lock-out upto October 12.
04/10/12 PTI/Daily News & Analysis
