Kingfisher Airlines will start paying January salaries starting from Wednesday, chairman Vijay Mallya wrote in a letter to employees, as the debt-laden carrier struggles to retain staff
"It is my personal endeavour to not only clear the January salaries, but also clear a significant part of the February salaries by the end of this month itself," Mallya wrote in the letter seen by Reuters.
The airlines also expects to re-enter a distribution network with the International Air Transport Association "very shortly," Mallya said.
Kingfisher Air stock price
On October 21, 2014, Kingfisher Airlines closed at Rs 1.91, down Rs 0.05, or 2.55 percent. The 52-week high of the share was Rs 6.25 and the 52-week low was Rs 1.72.
The latest book value of the company is Rs -166.59 per share. At current value, the price-to-book value of the company was -0.01.
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