Kingfisher Airlines extend gains after staff ends strike

The management has accepted the staff demand of paying four months salary before the year-end.

Kingfisher Airlines is locked in 5% upper circuit at Rs 11.40 for second day in a row after the staff end their 26-days strike and agree to resume work with immediate effect on Thursday.

“The management of the private airlines has accepted the staff demand of paying four months salary before the year-end. The management also said the airline would be fully operational within a month and they would soon present their turn-around plan to the director general of civil aviationfor revoking suspension of their licence,” DNA report suggests.

The stock was almost halved in past one month from Rs 17.18 to hit a low of Rs 9.90 on Thursday on the Bombay Stock Exchange.

A combined 181,652 shares have changed hands on the counter in opening trades and there are pending buy orders for 5.61 million shares on the NSE and BSE.