Sensex 27506.71 -57.95 (-0.21%)28-May-15 16:00
Nifty 8319 -15.6 (-0.19%)28-May-15 00:00
Kingfisher Airlines Limited announced that following a series of protracted and unabated incidents of violence, criminal intimidation, assault, wrongful restraint and other illegal acts including refraining from attending work, by a small section of recalcitrant employees which were all unnecessary and unprovoked, the management has been forced to declare a partial lock-out at the airline, effective immediately.
Kingfisher Airlines has more than sufficient number of staff to safely operate its current schedule of flights as per the holding plan. It is internally ascertained that despite the fact that a vast majority of the staff are willing to cooperate and support the company in these turbulent times, they are not able to/not being allowed to report to work on account of acts of criminal intimidation by the said same class of recalcitrant employees who have regrettably chosen to take law into their own hands, forcing a complete paralysis of operations.
In these circumstances, with the safety of passengers in mind, the Company is left with no other option but to take firm and decisive steps as advised in law, including disciplinary action against these recalcitrant employees, to bring the situation under control particularly with a view to getting flight operations back to normal at the earliest. All employees are hereby called upon to immediately and forthwith restore normalcy and resume normal duties.
Before commencing legal action, the Company will make efforts to continue to engage with these recalcitrant employees to persuade them to cease and desist from intimidating and threatening the vast majority of the work force that is willing to report for work with a view to commence normal flight operations as per the holding plan as soon as possible.
In the meanwhile, it has been decided that flight operations will be suspended for the next 3 days, i.e. until October 4, 2012.
India Infoline Research Team / 14:59, May 20, 2015
GPIL reported 13.5% yoy decline in operating profit as the impact of higher volumes was offset by lower product prices