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Heathrow Harry
22nd Oct 2012, 08:59
BBC News - Kingfisher shares fall 5% on license suspension (http://www.bbc.co.uk/news/business-20024870)

Kingfisher shares fall 5% on license suspension

Shares in India's cash-strapped airline Kingfisher have fallen almost 5%, after its license was suspended over the weekend.
India's aviation regulator ordered the suspension after Kingfisher failed to address concerns over its operations.
Staff of Kingfisher say they have not been paid in months and went on strike three weeks ago. Led by billionaire Vijay Mallya, Kingfisher has made annual losses for five years in a row.


The director-general of civil aviation said the license would be suspended until the airlines presented a financial plan for its long-term future.


The call for an action plan came earlier this month, after the wife of a Kingfisher employee committed suicide, apparently because of the dire financial situation of the family.


The airline carries $1.4bn (870m) in debt. It has suspended flights until 6 November.

Victor Inox
22nd Oct 2012, 09:08
A similar thread has been going on for some time in the "South Asia and the Far East" forum.

Heathrow Harry
22nd Oct 2012, 10:05
too many forums , too many threads TBH

i thought it was of general interest anyway - if very very depressing

Zoyberg
23rd Oct 2012, 09:03
Were the concerns about the flight operations of Kingfisher. Have been looking at jobs in the Far East and there are a lot of Indians prepared to undercut the competition to land a job. How well trained are these guys?

sb_sfo
23rd Oct 2012, 21:27
How well trained are these guys?

I'd say they were a little out of practice at endorsing paychecks for deposit:(

cldrvr
25th Oct 2012, 15:10
Airborne again???


Kingfisher Airlines – airborne again! | beyondbrics (http://blogs.ft.com/beyond-brics/2012/10/25/kingfisher-airlines-airborne-again/)

CFMFan
22nd Nov 2012, 14:30
All in the Asia forum guys

captjns
22nd Nov 2012, 15:08
Sure... the friends of the employees who believed they were going to get paid before Diwali.:ugh: