Kingfisher Airlines is trading higher by 5% at Rs 17.60, extending its 10% rally on reports that the beleaguered carrier's employees withdrew their proposed agitation accepting its promoter Vijay Mallya's assurance for a staggered payment of their salary dues starting today.
“The employees, led by pilots and engineers, had threatened to stop work from Tuesday night if two months salary was not paid. However, they backed off after a late night negotiations with Mallya at his Mumbai residence,” the report suggests.
A combined 2.17 million shares have changed hands on the counter till early noon deals on the NSE and BSE.
