Kingfisher Airlines declares temporary lockout
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The grounded Kingfisher Airlines today started paying salary for the month of May to its lower level staff and some cabin crew while there was no word about salary dues of pilots and engineers. "Only cabin crew and low rung staff have received their May salary," pilots and engineers said, adding "we still have no word from the airline about our dues."
By 1989, poor business decisions left Trump unable to meet loan payments. Trump financed the construction of his third casino, the $1 billion Taj Mahal, primarily with high-interest junk bonds. Although he shored up his businesses with additional loans and postponed interest payments, by 1991 increasing debt brought Trump to business bankruptcy and the brink of personal bankruptcy.Banks and bond holders had lost hundreds of millions of dollars, but opted to restructure his debt to avoid the risk of losing more money in court.The Taj Mahal re-emerged from bankruptcy on October 5, 1991, with Trump ceding 50 percent ownership in the casino to the original bondholders in exchange for lowered interest rates on the debt and more time to pay it off
By 1994, Trump had eliminated a large portion of his $900 million personal debt and reduced significantly his nearly $3.5 billion in business debt.
By 1994, Trump had eliminated a large portion of his $900 million personal debt and reduced significantly his nearly $3.5 billion in business debt.
Last edited by Capt Apache; 17th Nov 2012 at 05:21.
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But Trump never missed a payroll.
Donald Trump's Companies Filed for Bankruptcy 4 Times - ABC News
A business declaring bankruptcy is nothing new in corporate America, where bankruptcy is often sugar-coated as "restructuring debt." But it might seem alarming to everyday Americans who can't get a bank to restructure their home loans. If you want to get Donald Trump hot under the collar, accuse him of declaring bankruptcy.
Doug Heller, the executive director of Consumer Watchdog, said Trump is the "most egregious, almost comical example" of the disparity between what the average American faces when going through bankruptcy and the "ease with which the very rich can move in and out of bankruptcy."
"Under the American bankruptcy laws, if you end up in bankruptcy because you're struggling with divorce or medical payments or a sudden change of income, it's a disaster. If you fail miserably with huge dollars involved then you just need some accountants to rework your books," Heller said.
Doug Heller, the executive director of Consumer Watchdog, said Trump is the "most egregious, almost comical example" of the disparity between what the average American faces when going through bankruptcy and the "ease with which the very rich can move in and out of bankruptcy."
"Under the American bankruptcy laws, if you end up in bankruptcy because you're struggling with divorce or medical payments or a sudden change of income, it's a disaster. If you fail miserably with huge dollars involved then you just need some accountants to rework your books," Heller said.
Last edited by Capt Apache; 17th Nov 2012 at 07:23.
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I am not a fan of Trump by any means. However VJ has a depraved and indifferentattitude to human life. Review the history of how that dirt bag treats his employees. The mere fact that he is a MP and wields his fortune to curry favor with the politicos makes my skin crawl.
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Okay.You may not be a fan of Trump or VJ or his employees.You may not be a fan of India either.But that's not the point.
Whether VJ is depraved or indifferent to human life is his own personal issue.
There are many companies (especially airlines), that treat their employees badly.Not all are unsuccessful.
I'm sorry, but that happens everywhere.
Will KFA fly again? I don't think it is impossible.
Whether VJ is depraved or indifferent to human life is his own personal issue.
There are many companies (especially airlines), that treat their employees badly.Not all are unsuccessful.
The mere fact that he is a MP and wields his fortune to curry favor with the politicos makes my skin crawl.
Will KFA fly again? I don't think it is impossible.
The CEO of Kingfisher Airlines has now asked the aviation secretary to speak to the airports on KFA´s behalf so KFA could start operations without advance clearing the entire dues owed... getting desperate?
Kingfisher Airlines pleads with govt to restart operations - The Economic Times
The management of grounded Kingfisher Airlines made a desperate plea to the aviation ministry on Thursday for restarting operations.
While promising that it will pay May salary to employees (which were to be paid before Diwali) within a week, KFA CEO Sanjay Agarwal has requested aviation secretary K N Shrivastava to ask airport operators not to insist on full payment of dues as a precondition for restarting operations.
While promising that it will pay May salary to employees (which were to be paid before Diwali) within a week, KFA CEO Sanjay Agarwal has requested aviation secretary K N Shrivastava to ask airport operators not to insist on full payment of dues as a precondition for restarting operations.
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with what??
pleading to restart?? restart with what?,
no pay since april, but don`t worry we want u to "restart" - this is the second Indian airline to pull this nosense, paramount did the same thing, just didn`t pay the employees and hoped they would all "leave the job" so they(management) would be relieved of the responsibility. the powers that be, need to step in and nail this type of mis-management.
no pay since april, but don`t worry we want u to "restart" - this is the second Indian airline to pull this nosense, paramount did the same thing, just didn`t pay the employees and hoped they would all "leave the job" so they(management) would be relieved of the responsibility. the powers that be, need to step in and nail this type of mis-management.
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When mis-management by airlines in America, results in lay-offs and furloughs(which in turn results in an expat efflux to places like India/Asia); that really is no better than how employees have been treated at KFA and Paramount.
All types of mis-management must be nailed --not just this type
Petition | sAAve American Airlines- We demand the resignations of senior executives of American Airlines | Change.org
(Please read the disturbing comments by the supporters at the bottom)
Happens everywhere --No !!
As for Paramount, I think the powers that be are doing their job
CBI files charge sheet against Paramount Airways, 5 others - The Smart Investor
the powers that be, need to step in and nail this type of mis-management.
Petition | sAAve American Airlines- We demand the resignations of senior executives of American Airlines | Change.org
(Please read the disturbing comments by the supporters at the bottom)
Happens everywhere --No !!
As for Paramount, I think the powers that be are doing their job
CBI files charge sheet against Paramount Airways, 5 others - The Smart Investor
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Here is a post from the above petition.Its almost like an echo of a hapless KFA employee.
Is corruption different if it occurs in the developed world ? Its the same story everywhere.
Here is a flavour of corruption in the developed world, that airjet and his cohorts somehow find palatable.
American Airlines' dangerous flight path of management missteps - Miami Airlines | Examiner.com
Go ahead; approve the bankruptcy. You even have my blessing, because I don't believe for a second anything I say here will change your mind. There is no such thing as justice remaining in this country. The so-called justice system is a sham designed to favor the 1% elite who own virtually everything of importance. I'm taking my 30+ years of experience in maintaining safe aircraft and leaving the industry. I refuse to give you elitists the benefit of my knowledge and labor any longer. Going to give you a dose of your own medicine; denial of services. I think it's time to see how the other half live. I'm going to sit on my ass and watch the clouds float by as you'all work overtime to turn the U.S. into a third-world cesspool. The American public has a rude awakening coming and so do you. Hope you have plans to move elsewhere once the final shelling out of this once great nation/empire is complete. When you finally bankrupt us all, and the 50% of the population which is now sucking off the government tit finally revolt, you might want to be somewhere else. BTW how much money did you get in your brown bag to suck up to AA management? Hope it is enough to keep you set in the cushy lifestyle you've become accustomed to. Got mine; just like you got yours. Many of us are not as clueless and ignorant as you believe we are. Have a nice day
Here is a flavour of corruption in the developed world, that airjet and his cohorts somehow find palatable.
American Airlines' dangerous flight path of management missteps - Miami Airlines | Examiner.com
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what the hell are you blabbering about Apache, no one here is denying that corruption exists in all parts of the globe, in fact we are not talking about corruption, what is being said, (i will use capitals maybe then u might understand),
THE PRACTICE THAT EXISTS IN INDIA AND ONLY IN INDIA OF JUST "STOPPING PAYING EMPLOYEES" AND THEN SITTING BACK AND WAITING FOR THEM TO GET FED UP AND LEAVE/RESIGN, SO THAT THE "COMPANY" IS OFF THE HOOK
IS IMMORAL!!!!
now go ahead and blabber about something totally irrelevant--try United not giving crew meals lol
THE PRACTICE THAT EXISTS IN INDIA AND ONLY IN INDIA OF JUST "STOPPING PAYING EMPLOYEES" AND THEN SITTING BACK AND WAITING FOR THEM TO GET FED UP AND LEAVE/RESIGN, SO THAT THE "COMPANY" IS OFF THE HOOK
IS IMMORAL!!!!
now go ahead and blabber about something totally irrelevant--try United not giving crew meals lol
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THE PRACTICE THAT EXISTS IN INDIA AND ONLY IN INDIA OF JUST "STOPPING PAYING EMPLOYEES" AND THEN SITTING BACK AND WAITING FOR THEM TO GET FED UP AND LEAVE/RESIGN, SO THAT THE "COMPANY" IS OFF THE HOOK IS IMMORAL!!!!
Ask the guys from US, especially United & DAL guys how it was through their post 9/11 Furloughs, voluntary rounds of pay & benefit concessions followed by another round of cuts in their respective BK's....
Those guys were promised a NOT SO LAVISH but OK Honeymoon but what they got in reality was GANGRAPE by their respective managements. The profession was changed forever...
Ask the guys from AA right now, how it feels in CH11.....
Ask the guys from Republic, who have been fighting the mgmt to come to table & talk about a new contract.
Oh, and if you want to go further down the history lane, then there are lots of examples; Eastern, TWA, Continental......
Moral of the story, any & all mgmts are same, same old $h!t; just a different year, a different country & continent.....
Now, let's move the thread back on track pls......
Last edited by pilotbaba; 26th Nov 2012 at 22:19.
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"Ask the guys from AA right now, how it feels in CH11....."
Probably pretty happy to be back on the job with 40 recalls a month from Jan 2013!
Probably pretty happy to be back on the job with 40 recalls a month from Jan 2013!
I am sure you are seasoned enough not to believe anything until it actually happens.....
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The only difference here in this situation with KFA is that Indian laws didn't allow for KFA to do what the laws in US allowed United, DAL, Continental & AA to do......
But that point is not an excuse for the demise of KFA., I have mentioned earlier also, the reasons were different....
KFA is not first airline to fall prey to that & I am pretty sure that it will NOT be the last one......
But that point is not an excuse for the demise of KFA., I have mentioned earlier also, the reasons were different....
KFA is not first airline to fall prey to that & I am pretty sure that it will NOT be the last one......
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good news for VJ
British liquor company Diageo has invested 2 billion dollars into UB,, --but they now own 54%, however VJ retains position as chairman. oh oh apache the RAJ returneth lol