posed to come by the middle of November,” said one of the employees.Kingfisher s spokesman Prakash Mirpuri was unavailable for comment. Earlier, Kingfisher has said that salaries for June to September would be paid once the airline manages to raise funds. Kingfisher told the aviation ministry it has pending salaries worth 1.2 billion rupees ($21.82 million.)But salaries are just part of the problem.Kingfisher is also facing pressure to return five leased planes due to non-payment of rentals, one of the employees said. But the airports where the planes are parked don’t want to let go of them until Kingfisher settles its payments with them as well, he added. As of late October, Kingfisher owed 3 billion rupees to the state-run Airports Authority of India, and more than 1 billion rupees to the privately-run Delhi and Mumbai airports. Serious recapitalization continues to remain an outstanding issue and is critical for any meaningful revival, said Kapil Kaul, chief executive, http://www.cheaptomsshoessalei.com - toms outlet , south Asia at CAPA-Centre for Aviation.Kingfisher has said it will need 6.52 billion rupees a year to pay salaries, refurbish planes and fund operations. It plans to initially start limited operations with five Airbus planes and two ATR turboprop regional aircraft.The airline has said the money will come from its parent UB Group but the methods of payment are still unclear to the government.At the same time, it requires additional funds to at least partly reduce its debt of about $2, http://www.tomsoutletsalecheap.com - tomsoutletsalecheap.com .5 billion to save on interest payments.Kingfisher is in a race with rival Jet Airways (India) Ltd. to sell a stake to Etihad Airways.Although, Kingfisher would be valued less than Jet, its problems would make it a potentially less attractive player than Jet for the Abu Dhabi-based carrier.Follow India Real Time on Twitter @indiarealtime. Add a Comment Error message Name We welcome thoughtful comments from readers. Please comply with our guidelines. Our blogs do not require the use of your real name. Comment Comments (2 of 2) View all Comments 6:34 pm January 4, 2013 Rahul wrote: Jet too is exposed to similar debt. Ethihad will look for a trade off between lower valuation to stable operation which the company can anyway do on its own. 4:49 pm January 4, 2013 zenith wrote: Let s give Kingfisher a chance because it s the question for thousands of employees. But before starting let it clear the employee salaries first. What we want is the govt. also think something for the employees too, http://www.tomsoutletsalecheap.com - toms shoes . As AAI is under govt. of India but KFA employees are not the govt. employee. What would happen it Kingfisher is unable to survive ? India Real Time offers quick analysis and insights into the broad range of developments in business, markets, the economy, politics, culture, sports, and entertainment that take place every single day in the world’s largest democracy. Regular posts from Wall Street Journal and Dow Jones Newswires reporters around the country provide a unique take on the main stories in the news, shed light on what else mattered and why, and give global readers a sna
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