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Aug 18, 2012, 01.13 PM IST
Beleaguered Kingfisher Airlines has missed its deadline to pay salaries to its pilots, reports CNBC-TV18. The cash-strapped airline had promised to pay outstanding salaries between August 13 and 17.
The salaries are outstanding since March. However, the company has cleared some dues to ground staff, and cabin crew.
The airline, which has been facing fund-crunch for almost a year now, has not paid salary to its staff for the past five months. A sizeable number of its employees have not been paid since February.
The near-bankrupt Kingfisher’s net loss widened by a whopping 147% to Rs 651 crore in the June quarter, from Rs 263.5 crore in the year ago period, due to higher interest costs and cost on grounded planes, though curtailed operations helped it trim operational expenses significantly.
With inputs from PTI.
May 22 2013, 10:28
- in Technicals
May 22 2013, 10:44
- in Economy