The management is committed to bring the ailing airlines back on track and is committed to clear arrears once airline is capitalised, the CEO Sanjay Aggarwal said in a press conference.
He also assured that three months salaries will be paid before Diwali. Stating that the three-month salary offer is fair , Aggarwal stressed that the company's intent is to get employees back to work in a few days.
However, a section of its employees rejected its offer of three months' salary before Diwali and demanded that their four months salaries be paid within a day or two. "Out of 4000 employees 3200 still come to work," he said.
Aggarwal informed that discussions with investors on recapitalisation are still continuing. He also added that suspension will be revoked once revival plan is submitted.
The Kingfisher Airlines has not paid its staff for seven months. A series of strikes called by its pilots and staff and repeated flight cancellations forced the Directorate-General of Civil Aviation (DGCA) to suspend its licence three days ago, until it came up with a viable working plan for its financial and operational revival.
Below is an edited transcript of KFA management's interaction with the press led by CEO Sanjay Aggarwal on CNBC-TV18.
Sanjay Agarwal, CEO, Kingfisher Airlines went on record and described the conclusions reached in his meeting with the employees of the airline. "It was a very fruitful meeting where it was agreed that the solution should be acceptable to most employees as they have to go back and discuss with the employees at their bases and then revert. But we think we have arrived at a fair solution to move forward and work together to put Kingfisher Airlines back in the sky. I have seen lot of negative media coverage over the last few days proclaiming the end, but there will be a Kingfisher again. All of 4,000 of us are committed, our chairman and the rest of the UB Group, to put Kingfisher Airlines back in the sky."
Q: What was discussed regarding the payment of salaries?
A: The salaries will be paid in approximately three phases before Diwali.
Q: And that has been accepted by all sections of your employees?
A: As I said, we think it's a fair offer. But the participants involved in the discussions believe that it should be acceptable across the board. So, we will wait till the employees return with the opinion and other feedback from their bases.
Q: How much time have you given the employees to return with the feedback?
A: I think it will be fair to give them at least a day or two to get back to us and the process will be coordinated over the next couple of days.
Q: How soon do you think you will be able to take a decision?
A: We will have to take a call in the next few days. As I said that the entire process is developing. We intend that all employees should be back at work in the next couple of days.
Q: Will you be able commence operations?
A: Not at this point in time. We have to go back to DGCA with our resumption plan. We will announce those plans in the near future and once we have the regulator's concurrence and approval, we will open flights for booking.
Q: What was the composition of the participants at the meeting?
A: There had about eight representatives from pilots and engineers from different bases.
Q: How about the ground crew?
A: Those employees continued to report to work despite all the challenges. They never stopped coming to work and they still continue to do so, on a daily basis.
Q: What happens after Diwali?
A: From thereon, we will pay one regular salary every month and we have committed to clearing the arrears once the airline is re-capitalised.
Q: From what account will the salaries be paid?
A: I am not willing to discuss the source from where the money will come. I wish to talk only about the solution reached with the employees. That solution mentions that three salaries will be paid before Diwali and we will organise funds to make sure that happens.
Q: How soon will you go back to the DGCA?
A: Very soon. We need a day or two to make sure everyone is on board and the employees report to work. We are currently at work on a plan and in a matter of couple of weeks we will present that plan to DGCA.
Q: By when will you go back to then DGCA?
A: I said we will very soon. Right now, we just got through the first step to make time commitments on the second step. We will have to figure out how long it takes for us to gather all the information that is required to present an acceptable plan.
Q: Has the DGCA given you a deadline to get back?
A: No.
Q: What is the deadline you have mandated your employees to provide their feedback?
A: Thursday, October 25.
Q: On Thursday, they have to come back to you and tell you whether this acceptable or not?
A: Then they report to work effective October 26.
Q: So, this effectively means that the lockout will extend to October 25?
A: That is correct.
Q: Can you comment the recapitalisation plans?
A: We have continuing discussions on the recapitalization and as we have said those discussions will slowdown in a situation that we are today but they have not stalled. They are continuing and we continue to have those discussions with the investors and we will share with you when we make some progress.
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