KFA - Jan 9- Panic Note?
Neelam Mathews Jan 10, 2012 Letter sent out to Kingfisher employees immediately after em ployees of Kingfisher Airlines (KFA) threatened to file a winding up petition against the company on its inability to pay them salaries. Our humble comments are in BLUE Subject: Update Dear Colleagues I would like to wish you all a happy new year and take this opportunity of sharing important information with you. It's 9 days since the year started! 1. Re-Start - we have submitted a detailed restart plan to the DGCA which is in two parts. The first part deals with a limited re-start utilising 7 aircraft ramping up to 21 aircraft in 4 months. The second part is a full scale rehabilitation of our Airline growing to 57 aircraft within 12 months of recapitalization. Both plans contain detailed information on key assumptions and funding requirements including payment of outstanding salaries to employees. This plan has omitted giving NOCs required, we hear. S...