Ailing Kingfisher Airlines extended its partial lockout by a week till October 12 as talks between its management and employees failed to break the deadlock over non-payment of salaries for the last seven months.
Regretting that the illegal strike by a section of the airline employees has still not been withdrawn and normalcy yet to be restored, a late night statement by Kingfisher said it is constrained to extend the partial lock-out upto October 12. The partial lock-out commenced on Monday evening.
Bharat Raghavan, the company secretary of Kingfisher and a key member of the top management, also resigned with effect from September 30.
Shares of Kingfisher Airlines declined Rs 0.65, or 4.68%, to trade at Rs 13.25. The total volume of shares traded was 167,734 at the BSE (11.49 a.m., Friday).