by Admin 2013-01-18 | Like 5 |1819 Views

Kingfisher management to meet lenders today

Kingfisher management to meet lenders today

The meeting between bankers and management of ailing Kingfisher Airlines on Friday is being considered crucial as it will determine the future course of action by lenders.

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The ailing Kingfisher Airlines on Monday offered to pay one month salary to its employees in 24 hours during a closed-door meet with the representatives of its pilots\' and employees\' unions. Sources said that the airline company further offered to pay the second month salary within a week and the salaries for the third month before Diwali. However, the staff

Kingfisher Airlines offers to pay a mont...

Description : The ailing Kingfisher Airlines on Monday offered to pay one month salary to its employees in 24 hour...

Tags : kingfisher airlines, mumbai, kfa, kingfi...

n the latest twist to the Kingfisher Airlines crisis, sources on Friday said that the money to revive the cash-strapped airline will come from Vijay Mallya\'s UB Group as there is no investor available in the near term. Kingfisher CEO Sanjay Aggarwal met the Directorate General of Civil Aviation (DGCA) officials on Friday afternoon and will now meet Mallya to

UB Group will fund Kingfisher Airlines\'...

Description : n the latest twist to the Kingfisher Airlines crisis, sources on Friday said that the money to reviv...

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Kingfisher Airlines (KFA) faces the threat of its prime slots on the major metro routes being given away to rival carriers if it fails to resume operations in full swing, say civil aviation ministry source.

DGCA to Kingfisher: Show flight schedule...

Description : Kingfisher Airlines (KFA) faces the threat of its prime slots on the major metro routes being given ...

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The BSE Sensex extended gains on Thursday, while the Nifty rose to a 2-1/2 year high, as lenders continued their rally on expectations of early rate cuts by the RBI. Indian shares have gained just over 4% so far this month as foreigners have been net buyers for 20 consecutive sessions, bringing in a net of $12.98 billion. Market analyst Sarvendra Srivastava says the Nifty is approaching target range of 6,250-6,300 and the Bank Nifty is on course to hit 13,500-13,600.

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Description : The BSE Sensex extended gains on Thursday, while the Nifty rose to a 2-1/2 year high, as lenders con...

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Kingfisher airlines.....

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New Delhi: Adding twist to the Kingfisher Airlines crisis, sources said that the airline will not be able to pay the full salaries to its employees. The current monthly salary outgo for Kingfisher Airlines stands at approximately Rs 20 crore. Half of the airline staff were paid their March salaries but for the outstanding salaries, the airline will need Rs 10 crore.

KFA will not be able to pay full salarie...

Description : New Delhi: Adding twist to the Kingfisher Airlines crisis, sources said that the airline will not be...

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Troubled Kingfisher Airlines Chairman Vijay Mallya will be attending the Indian Grand Prix event at Greater Noida later this week. Mallya will be returning at a time when the airline is in the middle of a crisis. The employees of Kingfisher Airlines wanted to speak directly to Mallya on their issues, but they were not given permission to do so.

Vijay Mallya to attend Indian Grand Prix...

Description : Troubled Kingfisher Airlines Chairman Vijay Mallya will be attending the Indian Grand Prix event at ...

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State Bank of India Chairman Pratip Chaudhuri wants the beleaguered Kingfisher Airlines (KFA) to act quickly on repaying its bank loans. When asked if he is willing to give the airline more time, Chaudhuri said, “No….time is of essence. So, we think the company should act faster. It is a big company and with a whole group of banks, action is happening.”

A consortium meeting of 17 lenders led by State Bank of India is likely to take a call on February 12 on initiating recovery proceedings, including a change of management, against the debt-laden airline, said a senior banker close to the development. Though banks and KFA management have held talks over the last one year for recovering their dues and reviving the airline, no headway has been made yet. The airline owes about Rs 7,000 crore to banks.

SBI Chief: Kingfisher needs to pay up so...

Description : State Bank of India Chairman Pratip Chaudhuri wants the beleaguered Kingfisher Airlines (KFA) to act...

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KFA surged over 4 per cent on Wednesday after the grounded airliner got a ‘no objection certificate’ from oil companies.

Kingfisher rallies after getting NOC fro...

Description : KFA surged over 4 per cent on Wednesday after the grounded airliner got a ‘no objection certif...

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