The truncated operations of cash-strapped Kingfisher Airlines were further affected on Wednesday as a section of pilots went on strike protesting non-payment of back wages.
The pilots were not paid March salaries despite repeated assurances from the management. The pilot action forced the airline to cancel four flights from Mumbai and one from Delhi. It is now operating about 85 flights a day, down from the 118 it is permitted to operate. In January, the airline was operating more than 400 flights a day. This is the second time this month that the pilots have not reported for work. With most of the airline’s operations being from Mumbai and Delhi, the cancellations hit these two sectors most.
According to airport sources, the airline has been cancelling flights for more than a week now. The airline, which had a fleet of over 60 aircraft in January, now operates with 11 aircraft — six Airbus A-320 and five ATR.
Kingfisher reported a loss of Rs 651 crore in the April-June quarteragainst a loss of Rs 264 crore in the year-ago period.
In a recent report, the Centre for Asia Pacific Aviation (CAPA) said that the debt-laden airline may have to shut its operations if $600 million is not infused in the next two months.
ashwini.phadnis@thehindu.co.in
Nivedita.ganguly@thehindu.co.in
Keywords: Kingfisher Airlines, Kingfisher Mumbai pilots, Kingfisher pilots strike, Kingfisher non-payment of salaries, Kingfisher airlines schedule, Kingfisher flights cancelled, Kingfisher flights, Kingfisher salary arrears, Vijay Mallya, Kingfisher funds crunch, Kingfisher bankruptcy
Comments:
Comapre the reams being writiten on how Air India is being dealt with by the state with the way KIngfisher is being allwo4ed to linger on like this. Commentatoras are worried on what effect the KF failure will have ohn United Breweries rather than on how many public sector banks KIngfisher will pulll along with ti down the drain. It is publiuc money, savings and deposits and tiny shareholders. Neither the government nor the instituional investors nro the regulator is worried unduly on thias accoutn. The altest worry is that an infra company
wshich came to the forefron t in acuqiring a city airport modernisation and privatision ahs some 36000 croes of debt. What was unsaid in that report was how much of that 36000 croes treperesent the moneys you ahve saved and put in your fvavouritge banks. IOt is time trhat parliament akes ometime from tis current headahces and priorities to debate this mishandling of th4e banks by the govt. before it becoemes too late. The resultant scam will be hund
It is a foolish idea to go on strike by Kingfisher staff. I don't think they will get what they want by doing this. Kingfisher is incurring losses and huge debt is piled up. In this scenario any disruption of business activities will cause more troubles than paving way to clear them. I suggest winning the customer heart is Key to inflow of funds and thereby this will solve the problem of staff (to get their salary and or arrears). If the staff acts hurt the customers (by cancellation of flights, delays) then it will have direct impact on the cash inflows. It is hard to bring back those customers. Staff should understand that Government of India will be happy if this company stays in business rather than shuts down. Staff cannot persuade management now as the management is already facing blame from all. I am not against to showing the angry of the staff but it should not be like cutting the trunk by sitting on it.
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