Kingfisher Airlines shares drop on pilot strike

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Kingfisher Airlines shares drop on pilot strike
Shares of Kingfisher Airlines dropped almost 5%, after a media statement that the company was anticipating disruptions and delay in its flight schedules, saw selling pressure in the stock.

"A section of employees of Kingfisher Airlines has not been reporting to work over the last fortnight and over the past 2 days, they have been threatening and even manhandling the other employees who are reporting to work as usual. We are anticipating disruptions and/or delays of flights across our network on October 1, 2012 as it is likely that a section of employees of Kingfisher Airlines may not report to work due to such threats. With a view to mitigating the impact of these anticipated disruptions, we are proactively cancelling several flights across our network for October 1, 2012," the company said in a statement.

According to a release the company has stated that it was monitoring the situation and continues to engage with this section of employees to see reason as such action is not only detrimental to the company but directly impacts the travelling public and it will be our endeavour to resolve the situation and restore normal operations at the earliest.

"We deeply regret any inconvenience that may be caused to our valued guests on account of this unprecedented action by a small section of employees and we are doing our best to minimise the impact of these anticipated disruptions," the Kingfisher statement adds.

Read more about: kingfisher airlines
Story first published: Monday, October 1, 2012, 10:06 [IST]
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