Around 3,000 employees of Kingfisher Airlines were left in the dark on Diwali after the management failed to pay their May salary, despite its commitment that their dues would be cleared by the festival.
Keywords: Kingfisher Airlines staff, May salary
And this is the company which is expected to raise $ 1 billion before the end of this month.It is very strange indeed that the State Bank of India which leads the consortium of bankers who have lent huge sums to the company,seems to be nonchalantly waiting for a miracle viz.KFA's ability to raise the huge sum before initiating any further action instead of recalling the loans and enforcing the security.Any further delay would only depreciate the value of the security because then the sale would be a distress one.
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