Kingfisher - Is the writing on the wall?
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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.
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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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.
. 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.
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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?
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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"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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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.....
Its the big stuff like lease payments, fuel and overflight fees that are causing pain.....
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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
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
