Kingfisher Airlines down over 4% after employees reject salary offer

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Continuing its dwindling performance, shares of troublesome Kingfisher Airlines declined over 4 per cent on the Bombay Stock Exchange after employees reject salary offer made by the management.

The management offered its employees three months of pending pay by Diwali on November 13 which were rejected by a section of employees prolonging the 23-days impasse at the private airline.

Reacting to the news, shares of the company started the day on weak note and witnessed a loss of as much 4.59 per cent to trade at Rs 10.40 a piece on BSE.

In a similar fashion, shares of the company were trading at Rs 10.35, down 4.61 per cent on the National Stock Exchange.

Meanwhile, the broader benchmark Sensex was quoting at 18,786.59, down 6.85 points or 0.04 per cent at 10:00 hours.

Read more about: kingfisher airlines
Story first published: Tuesday, October 23, 2012, 13:33 [IST]
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