Kingfisher agrees to pay 6-month salary; stock up 5%

Shares of Kingfisher Airlines (KFA) were locked at 5 upper circuit on Friday after the company agreed to pay six months salary to its employees.
  • Language
  • App
  • Subscriptions
  • Specials
  • Sign-In
  • Register
GeStepAhead GrowMyMoney IThe Winning Leap SME Special
Moneycontrol

Home » News » Business

Mar 08, 2013, 10.27 PM | Source: Moneycontrol.com

Kingfisher agrees to pay 6-month salary; stock up 5%

Shares of Kingfisher Airlines (KFA) were locked at 5 upper circuit on Friday after the company agreed to pay six months salary to its employees.

Like this story, share it with millions of investors on M3

Kingfisher agrees to pay 6-month salary; stock up 5%

Shares of Kingfisher Airlines (KFA) were locked at 5 upper circuit on Friday after the company agreed to pay six months salary to its employees.

Post Your Comments

Share Cancel

Shares of Kingfisher Airlines (KFA) were locked at 5 percent upper circuit on Friday after the company agreed to pay six months' salary to its employees.

CNBC-TV18, quoting government sources, reported that CEO Sanjay Aggarwal met Directorate General of Civil Aviation (DGCA) officials on Thursday. According to sources, Kingfisher told DGCA that they will pay 6 month's salary to its staff soon. "We will use funds from United Spirits-Diageo deal for salaries and want Kingfisher slots to be retained, especially at Mumbai airport," Kingfisher said.

Meanwhile, DGCA told KFA that paying salaries is not sufficient to revoke licence suspension. "We want assurance on payment to other stakeholders and credible revival plan with financial details," DGCA said, according to government sources.

However, Supreme Court dismissed company's plea against Rs 370 crore tax demand today.
 
At 14:13 hours IST, shares rose 4.91 percent to Rs 10.04 on Bombay Stock Exchange.

There were pending buy orders of 48,545 shares, with no sellers available.

Buy, Hold, Sell ? Hear it first on M3
Kingfisher agrees to pay 6-month salary; stock up 5%

See all

Get started using your favorite social network

or

Login using moneycontrol ID

Username
Password

Need help logging in? Reset password.

Don´t have an account? Sign Up

Get started using your favorite social network

or

Simply sign up using this short form

* mandatory

UserName*

Username should be atleast 4 character

Password*

Password should be 8 or more characters,
atleast 1 number, 1 symbol & 1 upper case letter

Alert

Your Password should contain
  • 8 or more characters
  • At least 1 number
  • At least 1 symbol
  • At least 1 upper case letter
Confirm Password*
Email
Already have an account? Login