Tuesday, October 23, 2012

Opinion Kingfisher-Dangling a carrot? (Video)

Neelam Mathews
Oct 23, 2012

As Sanjay Agarwal, CEO of Kingfisher Airlines bravely battled his way through through a barage of tough questions yesterday from journalists and staff during the day,one couldn't but help admire his fortitude, given that his boss is in hiding.
There are many in the industry who say this effort by the airline is primarily, to stop employees creating a rukkus outside the Formula One race track in Greater Noida as they have threatened to do, to embarrass the Force India team owner, Vijay Mallya.

Or else, how come the management, that has been so cagey with the buck, suddenly comes up with an offer for one month's salary and upped it to three months within hours? Also, call it intuition, but I am seeing a chasm developing between the engineers on their decision to go back to work. Any guesses? Lets not forget, the airline needs engineers and pilots to run just 5-7 planes.
And when Agarwal said at the press conference there were just 1500 people who were not coming to work, he probably forgot to add they were the people servicing and flying the planes! But everything aside, Agarwal seems to have had many sleepless nights and for that we commend him. Must be difficult to make decisions with all odds against you.
The employees for the moment, are unrelenting. A banker told me: "They should take the money and run." Obviously he seemed to know how seemingly bankrupt companies react. Questions on recapitalization,an investor that hasn't been named yet and how money will be paid to the employees and why it wasn't payed in the first place if they had it, remained unanswered.
The root of the problem is the endemic system as Jitender Bhargava said on Times Now program, Newshour. A candid revealing statement -possibly a slip of the tongue- by former non executive director of KFA, Parvez Damania who having successfully sold his own airline and has a lot of experience tucked under his arm, on how Kingfisher "managed" the system (in videos below) is something that we all know about and talk behind curtains.

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