google.com, pub-6370463716499017, DIRECT, f08c47fec0942fa0 AlfaBloggers Best Bloggers Team Of Asia : Indian regulators have asked Kingfisher Airlines to explain why their license shouldn't be revoked as a strike forces the cash-strapped carrier to cancel flights through Friday.
Showing posts with label Indian regulators have asked Kingfisher Airlines to explain why their license shouldn't be revoked as a strike forces the cash-strapped carrier to cancel flights through Friday.. Show all posts
Showing posts with label Indian regulators have asked Kingfisher Airlines to explain why their license shouldn't be revoked as a strike forces the cash-strapped carrier to cancel flights through Friday.. Show all posts

Sunday 7 October 2012

Indian regulators have asked Kingfisher Airlines to explain why their license shouldn't be revoked as a strike forces the cash-strapped carrier to cancel flights through Friday.




Indian regulators have asked Kingfisher Airlines to explain why their license shouldn't be revoked as a strike forces the cash-strapped carrier to cancel flights through Friday.

Kingfisher said in a statement late Friday that it would respond to the notice within 15 days and submit a "comprehensive plan for restoration of services after negotiations with our employees."

Flights have been grounded since Monday, as employees angry about not being paid for up to seven months refuse to work.


Authorities have been criticized for not acting earlier to protect passengers from flight cancellations and the hazards of stressed pilots and engineers who haven't been paid in months.

Civil Aviation Minister Ajit Singh said Friday that the carrier has passed all safety audits.

"From a safety point of view, there are no problems," he told India's NDTV.

The chairman of the State Bank of India, one of Kingfisher's main creditors, told reporters Friday that lenders have agreed to release 600 million rupees ($11.6 million) to help pay back salaries, after the income tax department unfroze the airline's bank accounts.

"The money that has been released by the tax authorities, 80 percent of that will be made available to the company on humanitarian grounds, specifically to pay salaries of the employees," SBI chairman Pratip Chaudhuri told the Press Trust of India.

The Center for Asia Pacific Aviation, an airline industry research group, puts Kingfisher's outstanding debt at $2.5 billion, including about $1.1 billion in bank debt, and says its accumulated losses swelled to $1.9 billion by the end of June.

Kingfisher spokesman Prakash Mirpuri declined to comment on the release of funds.





Kingfisher gears up to resolve crisis
The Hindu
The management of Kingfisher Airlines has expedited the process of convincing its employees to resume work by considering partial payment of their salaries. The management is now willing to pay as the unrest is spilling over to the streets and licence ...
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Govt not soft on Kingfisher; didn't bail them out: Ajit Singh
NDTV
Interactive Transcript. Loading... Alert icon. Sign in or sign up now! Alert icon. Loading... There is no Interactive Transcript. Published on Oct 5, 2012 by ndtv. Aviation Minister Ajit Singh talks exclusively to NDTV about the crisis-hit Kingfisher ...
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We Mean Business: Will Kingfisher be able to fly again?
NDTV
In the latest episode of We Mean Business, NDTV's Shweta Rajpal Kohli, M.K. Kaw, Former Civil Aviation Secretary and Former Secretary Education, Kapil Kaul, CEO- South Asia, CAPA, Kanu Gohain, Former Director, Jitendra Bhargava, Former ED, Air India, ...
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Body of Kingfisher employee's wife handed over to family
The Hindu
The body of 45-year-old Sushmita Chakravorty, the wife of a technician with theKingfisher Airlines who allegedly committed suicide by hanging herself at her Manglapuri residence here on Thursday, was handed over to her family after post-mortem on Friday.
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Regulator Acts Against India's Kingfisher Airlines
ABC News
Indian regulators have asked Kingfisher Airlines to explain why their license shouldn't be revoked as a strike forces the cash-strapped carrier to cancel flights through Friday. Kingfisher said in a statement late Friday that it would respond to the ...
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The Hindu
A Tale From Kingfisher's Front Lines
Wall Street Journal (India) (blog)
Once upon a time not too long ago (last weekend) in a place not too far away (New Delhi), my husband and I decided to go to Dharamshala. Since trains were fully booked, we decided to fly. Since Kingfisher Airlines was the only one plying the route, our ...
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