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Kingfisher - Is the writing on the wall?

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Kingfisher - Is the writing on the wall?

Old 6th Aug 2011, 15:30
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Kingfisher - Is the writing on the wall?

Kingfisher are struggling to pay huge fuel debts and airport fees - most aircraft owners and banks are owed rent payments dating back several months. Some aircraft are grounded or out of service and there are some repossessions imminent.

Of course KF have been through all this but this time there seems to be some determination not to allow KF to continue to rob Peter to pay Paul and use delaying tactics with creditors to manage cashflow. The question is whether United Breweries will keep funding the operation.? A challenging few months ahead.
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Old 6th Aug 2011, 16:17
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jpthomas72
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F1 team bosses, listen up...

Does that also mean there will be an opening for Mercedes-Benz customer-F1-engines ? As VJM presumably uses exactly the same business techniques with his F1 team ? Sorry, couldn't resist . Without knowing too many facts though, I'd say plenty of people see a lot of business potential in the Indian market, so I'd be surprised if Kingfisher went under. I mean, which economy would you rather invest in ? Italy, Spain, US or India ? Fuel price also goes down currently. Star's slap in the face for Air India also should help Kingfisher. If I'd gotten a quid for every time Air Berlin has been pronounced dead, I'd be a rich man now. Bit of a similar beast with a charismatic (and power-mad) boss, and future OneWorld buddy of VJM.
 
Old 10th Aug 2011, 16:55
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apparently no salaries for pilots till date
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Old 10th Aug 2011, 17:44
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Pilots

What is a till date? Is it meeting your girlfirend at the shop check out?
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Old 12th Aug 2011, 08:53
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In this game of high stakes poker, lenders are fearful of being locked in lengthy court proceedings should they attempt repossession.
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Old 12th Aug 2011, 10:50
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Sounds like a classic case of a company over-extending itself by expanding too quickly. What routes will the A380's be used on - Delhi to Bombay??
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Old 14th Aug 2011, 04:47
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clear view.. till date means...

upto the date it is posted. learn english..
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Old 14th Aug 2011, 07:36
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condorbazz

Suggest you learn to read - I am clareview not clear view.

Up to the date what is posted?

dictionary - till - to cultivate or a box case or drawer into which money is taken or an unstratified glacial deposit.

Can I interpret your note as meaning "by the date you were writing, the pilots had not received their pay?

If so, when did they stop receiving salary?
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Old 14th Aug 2011, 08:42
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"no salaries till date" sounds like the pilots have never been paid since the airline started operation. I'd doubt this is the case and would suggest he/she means the pilots have not received their last months pay cheque.
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Old 16th Aug 2011, 10:33
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Staff morale overall appears to be fine, so salary payment doesn't seem to be an issue.

Its the big stuff like lease payments, fuel and overflight fees that are causing pain.....
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Old 25th Aug 2011, 13:00
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Kingfisher Airlines, has delayed payment of salaries to its employees, holding up payments for the month of July. In defaulting on staff salaries it now follows in the not-so distinguished steps of chronic defaulter, national carrier Air India.

Kingfisher staff has confirmed that the management has told them it does not have the money to clear salaries for July and has also refused to say when these payments are likely to be cleared.

At its end, airline management appears to have an explanation when it says that salaries could not be processed because of a bank strike last week, and that this has been expedited since.

According to airline staff, employees have been receiving their salaries on the seventh of each month for the last one year. Earlier, salaries would be credited on the 31st of each month
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