Kingfisher Airlines slips below face value, hits new low, after a large number of its employees went on a strike from Saturday, leading to cancellation of over 40 flights.
Kingfisher Airlines has dipped almost 5% at Rs 9.85, falling below its face value of Rs 10. The stock is currently trading at a record low on the Bombay Stock Exchange, after a large number of its employees went on a strike from Saturday, leading to cancellation of over 40 flights.
The stock has more than halved in 2012 so far, from Rs 21.05, compared to an 11% rise in the benchmark Sensex, after its share in the Indian airline market fell to the lowest in April. In October last year, the airline had the second-biggest market share
The debt-ridden airline has paid February salaries to around 75% of the staff, while the rest are yet to get their dues, the report added.
No comments:
Post a Comment