Kingfisher Airlines: Flights will Fly as Scheduled
Wednesday, 25th July 2012 at 03:05am
After a series of setbacks and labor unrest causing the cancellation of 40 flights recently, officials from Kingfisher Airlines announced recently that all flights will fly as scheduled.
Some of the airlines' workers opted not to work on Sunday accusing the airlines of not paying them their salaries for months.
The troubled airline, which is owned by the business magnate Vijay Mallya, has been losing momentum to keep its engine going to reach a goal most businesses are aiming for, earn profit.
Its market share has been steadily slipping from the second position to fifth position after most of its fleet were grounded due to the mounting financial losses over the years since it commenced operation in 2005. Early 2012 was the worst year for the cash-strapped airline.
Mr. Mallya admitted recently that the cancellation of all its flight on Saturday will worsen the airline's financial health in the coming days ahead.
An open letter sent to Press Trust of India, quoted Mr. Mallya as saying that destroying the image of the airline in public is tantamount to killing its future. He further admitted that the current crisis is making it hard for the airline to gain the trust and confidence of the prospective investors who may have wanted to infuse fresh capital.
In April, Kingfisher Airlines saw its market share nosedived to the bottom from its second position in October of last year among Indian airlines.
From the 340 flights it mounted per day, Kingfisher has cut them down to 120 flights daily.
By: Pete Lee.