Friday, 26 October 2012

license is still suspended as Kingfisher staff return


Employees on Thursday grounding Kingfisher Airlines Limited unpaid since March agreed to return to work the debt-ridden carriers must also convince the aviation regulator in order to restore its license.
The transaction will appear in this weekend's Formula One racing Delhi Kingfisher chairman Vijay Mallya's Force India team will participate by disgruntled employees in order to avoid potentially embarrassing protests.
Once India's second largest airline Kingfisher employees protest turned violent conflict since October flight. On Saturday after the General Administration of Civil Aviation (DGCA) to suspend its license Kingfisher failed to address its security concerns.
"All employees have agreed to return to work. Their responsibility as we speak we are all in this together and look forward to the airlines in the coming weeks" the CEO of the Sanjay AGGARWAL told reporters after the Delhi Airport staff.
He did not disclose further details it is not clear that the airline will be funds to pay wages.
"Now we will complete our recovery plan and submitted to the Civil Aviation Administration hoping to get their consent" the airline said in a statement.
Kingfishers never profit since its launch in 2005 nearly $ 25 billion of debt according to the Asia-Pacific aviation center estimated. The consultancy firm said it costs in the recent $ 1 billion reversing Kingfisher and no efforts made so far to bring new capital.
SC Mishra said in New Delhi Kingfisher engineer said the airline has agreed to immediately pay the monthly wage the monthly wage of the October 31 the Diwali festival on November 13 June salary December 20 and December 31 2011 between the monthly salary the money will be monthly.
After a lag of 3-4 months remaining payment of wages will handle the company to restore fiscal health and capital restructuring "Mishra told reporters.
He said the employees will not be held demonstrations.
Kingfisher shares closed up 4.83% to 5% of its daily limit after a similar amount of the four previous sessions. i used yellow pages hyderabad to find out the latest news update studios.
Kingfisher has been scrambling to find investors to bring new capital and to lobbying the recent legal changes to allow foreign airlines to buy 49% of the airline. However none of the operators has publicly expressed interest in the shares.
Mallya's liquor business United Spirits Limited during the talks the British drinks giant Diageo Co. Ltd. the company may release his funds sell shares for investment Kingfisher.
"All kingfisher team members work and full support and I would like to thank them for their faith and continued commitment" Mallya is known as the "King of Good Times" for his flashy lifestyle in Twitter said.
Ground
Ministry of Civil Aviation said that meeting the commitments of wages is not the only challenge facing Kingfisher.
Ajit Singh India's civil aviation minister said "The salary is a big problem should pay for staff but the bigger problem than it is to their financial assurance CAAC ET Now television channel (Thursday).
"They have a lot of good (debt) the Airport Authority the oil companies leasing companies and therefore it is not just the issue of salary in order to allow them to fly again the satisfaction of the Director of Civil Aviation Department and more things" Singh said.
DGCA officials were not immediately available for comment.
Even in the stop operation Kingfisher grounded most fleet and arrears paid to banks airports leasing companies and others but still allowed to continue flying.
This prompted criticism many people believe that the authorities will be easy Vijay Mallya who is one of the members of Congress and India's most compelling businessman.
Kingfisher lender most state-owned commercial banks and rarely forced the liquidation of the company.

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