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Dec 29, 2012, 10.31 AM IST | Source: CNBC-TV18

Pilots send fresh notice to KFA mgmt over dues: Sources

Beleaguered pilots of the grounded Kingfisher Airlines have sent a fresh missive to the management over unpaid salaries.

Beleaguered pilots of the grounded Kingfisher Airlines have sent a fresh missive to the management over unpaid salaries. Sources say that the pilots have written a letter to the Kingfisher management on the December 24 raising the issue of their dues. Vijay Mallya had promised to pay salaries for the March to May period before Diwali.

While the junior staff and engineers have been paid, pilots and co pilots are yet to receive salaries for the month of May. Sources say, the management has not responded nor has it reached out to employees on a new payment timeline or the company’s revival plan.

Remember, Kingfisher Airlines submitted a revival plan to the DGCA barely a week before its license comes up for renewal. Both the regulator and civil aviation minister Ajit Singh have said, Kingfishers plan falls short of expectations and leaves several questions unanswered including an assurance from the UB Group on forking out Rs 652 crore to restart partial operations.

Kingfisher Air stock price

On September 30, 2014, Kingfisher Airlines closed at Rs 2.05, up Rs 0.09, or 4.59 percent. The 52-week high of the share was Rs 6.84 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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