From: CEO, Kingfisher Airlines Ltd
Sent: Tuesday, October 23, 2012 12:51 AMSubject: Important Update
To: Dept-Alliances & Code Share; FFP; Commercial; Airport Managers (All India); Airport Duty Managers (All India); Airport Services; Airport Supervisors (All India); GuestServicesAgent; Security Team (All India); securitymanagers; Cargo Managers-All India; Cargo Team-All India; Inflight; Salesleadership; Sales; King Club; Network Planning; Marketing; Itteam; Revenue Management & Distribution; Borkar, Shailesh KFA/BOM/Finance; Daver, Toranj KFA/BOM/Finance; Admin
Dear Team Member
We have concluded the second meeting with key representatives of our Pilots and Engineering team today. I state below the offer that we have made.
(1) March 2012 salary will be paid on or before 25th October, 2012.
(2) We have urged them to accept our offer and should they agree, they will receive the April 2012 salary on or before October 31, 2012 and the May 2012 salary before Diwali. In essence, the Company will pay 3 months of salary before Diwali to these employees.
(3) The remaining salaries for the months of June 2012 to September 2012 will be paid once the Company has been recapitalized upon equity infusion.
(4) Commencing December, 2012, we will pay salaries in 30-day arrears, on a monthly basis. To clarify, October 2012 salary will be paid by fourth week of December 2012, November 2012 salary will be paid by the fourth week of January, 2013 and so on.
Please note that you would be receiving the March, April and May salaries as per the timelines indicated above. It is essential that we resume operations at the earliest post approval from the regulatory body.
Kingfisher management team joins me once again expressing our heartfelt gratitude to you for continuing to believe in us and working relentlessly towards restoring our pride. We are hopeful that our colleagues will appreciate our sincere effort and join us in resuming operations.