Mumbai: Shares of beleaguered Kingfisher Airlines were locked at 5 per cent upper circuit on Thursday after its chairman Vijay Mallya wrote a letter to employees assuring them that the management was trying hard to restart the operations.
The letter comes after the agitated employees, who have not received salaries for eight months, threatened to file a winding up petition in the court under the Company's Act.
Employees of the airline's maintenance and ground support departments, who held a meeting on Wednesday afternoon at the Delhi airport, have also decided to submit a memorandum to the ministries of corporate affairs, civil aviation and labour, seeking an enquiry into the management of the company.
"We have submitted a detailed restart plan to the DGCA which is in two parts. The first part deals with a limited re-start utilising 7 aircraft, ramping up to 21 aircraft in 4 months. The second part is a full scale rehabilitation of our airline growing to 57 aircraft within 12 months of recapitalisation," Mallya informed his employees in the letter.
10/01/13 Times of India
