14th July, 2012, New Delhi: On Saturday, Kingfisher Airlines, the debt-crippled organization has cancelled forty-one scheduled flights, the Airline authorities stated after some employees did not join the work following the company’s disability to pay their salaries.
Kingfisher Airlines also stated that seventy-five percent employees have already received their due and by Monday, the rest will get their salary as told earlier.
In a letter to the employees, Vijay Mallya, the Chairman of the company told that damaging the name of the company in front of public eyes will not help to produce cash and this makes his recapitalization efforts more difficult by causing concern and apprehension among the potential investors.
Kingfisher is operating twenty airplanes after cutting down services to around 120 per day. In April, the market share of the firm went down to the lowest among the airplane operators in India.
Mallya added that they have worked very hard to get back the confidence and trust of their guests, but today, they lost most of that.