Kingfisher’s employees not paid for two months

Troubled Kingfisher Airlines (IT) has not paid employees since December and was unable to make a planned salary disbursement last week.

India's The Economic Times and Mint newspapers quoted a Feb. 11 email to airline employees from CEO Sanjay Aggarwal, stating, "Unfortunately, we got hit by a couple of large unanticipated payments which had to be addressed on an emergency basis." This necessitated another paycheck postponement, he explained.

"We are in serious discussions with several potential investors and expect to recapitalize the airline in the very near future," Aggarwal wrote to workers. "Let us ensure we put our best foot forward to ensure these investors see our resolve and attitude even in these difficult times."

Article Source : ATW Daily News