Kingfisher Airlines locked in upper circuit as staff ends strike
Kingfisher Airlines Ltd rose nearly 5 per cent for second day in a row on Friday and is locked in upper circuit at Rs 11.40.
NEW DELHI: Kingfisher Airlines Ltd rose nearly 5 per cent for the second day in a row and was locked in upper circuit at Rs 11.40 on Friday, after the staff agreed to report to work following the management’s decision not to insist on any condition for payment of salaries.
At 10:35 am, Kingfisher Airlines was trading at Rs 11.40, up 4.59 per cent.
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“The employees of the airline, who had struck work on October 1, agreed to join on the management’s promise to clear dues for three months before Diwali,” ET reported. The management also promised to clear the fourth month’s salary before December.
“With workers rejoining, the airline aims to resume operations by November 6. However, having its workforce ready to report alone cannot enable Kingfisher to fly again,” said the report.
The airline is yet to obtain the consent of DGCA which had suspended its licence.
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