News: Amidst mounting concerns Kingfisher to hold meetings

C-Suite

Amidst mounting concerns Kingfisher to hold meetings

In the face of high debt, depreciating rupee and steep fuel prices, Kingfisher Airlines has been taking a multipronged approach to keep itself afloat. So be it curtailing flights or returning a few leased aircrafts, the intent is to conserve cash to remain afloat. At the same time it is trying to pacify employees who have not been paid for nearly two months, as anger mounts and experienced pilots start leaving the cash-strapped carrier ahead of the difficult winter season. In its bid to engage with the employees, the Chief Executive Officer of Kingfisher Airlines, has written two emails to employees to allay their concerns about the prospect of the airline as there have been fears of downsizing. The airline has 7,000 employees most of them have not been paid their salaries for October a reason as to why a number of them are disgruntled.

In the face of high debt, depreciating rupee and steep fuel prices, Kingfisher Airlines has been taking a multipronged approach to keep itself afloat. So be it curtailing flights or returning a few leased aircrafts, the intent is to conserve cash to remain afloat. At the same time it is trying to pacify employees who have not been paid for nearly two months, as anger mounts and experienced pilots start leaving the cash-strapped carrier ahead of the difficult winter season. In its bid to engage with the employees, the Chief Executive Officer of Kingfisher Airlines, has written two emails to employees to allay their concerns about the prospect of the airline as there have been fears of downsizing. The airline has 7,000 employees most of them have not been paid their salaries for October a reason as to why a number of them are disgruntled.

Kingfisher is looking at Rs. 800 crore to help it tide over the crisis, but it remains unclear whether this will be through debt or infusion by a strategic investor. There is obviously a high level of demoralization among Kingfisher employees due to an intense media and industry onslaught.

Source: Mint

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Topics: C-Suite, #Updates

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