[1]The cash-strapped Kingfisher Airlines claims that its “immediate priority is to access its funds to pay outstanding staff salaries”. Another airline official at the RGIA said, “At least this puts an end to the repeated cancellation of flights and diversion of passengers. The situation became tense since January.”
The airline is fighting battles on mutiple fronts. Even while the airline is reeling a debt burden of Rs 5,608 crore and an accumulated loss of over Rs 6,000 crore, the tax authorities have frozen its bank accounts, snapping the crucial lifeline of the airline. The company, however, expressed optimism of getting “re-capitalised and bouncing back as a major player in the civil aviation market”.
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