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 September 03, 2014, at 14:06 hrs Kingfisher Airlines was quoting at Rs 2.71, up Rs 0.12, or 4.63 percent. The 52-week high of the share was Rs 6.84 and the 52-week low was Rs 2.06.
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 -0.02.
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