Kingfisher Airlines chairman Vijay Mallya has reportedly written to employees of his airline saying he has arranged for finances to pay their long-overdue salaries. Kingfisher spokespersons however refused to confirm the development.
He also said that the UB Group and its associates have converted loans for an additional 5 per cent equity in Kingfisher Airlines and said this demonstrated the faith he had in the airline.
But Dr Mallya is also reported to have blasted the media in the communication and referred to the ‘media frenzy around the airline’.
“I have organised funding so that we can pay your seriously overdue salaries which is a source of great personal sorrow for me. We are currently handicapped, as the tax authorities have frozen our bank accounts. I have been working tirelessly to resolve this issue through negotiation. We fully intend to pay our tax dues as much as we commit to paying your salaries,” Dr Mallya is reported to have said.