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Kingfisher to resume payment of staff salaries

MUMBAI, India - Kingfisher Airlines will resume payment of staff salaries starting this week after tax authorities unfroze its bank accounts, the airline's chairman and managing director, liquor baron

Kingfisher to resume payment of staff salaries

MUMBAI, India – Kingfisher Airlines will resume payment of staff salaries starting this week after tax authorities unfroze its bank accounts, the airline’s chairman and managing director, liquor baron Vijay Mallya, said in a letter to employees.

Kingfisher’s bank accounts were frozen by tax authorities in February, restricting the carrier’s ability to make salary and other payments to keep its day-to-day operations running smoothly, leading to the grounding of most of its fleet.

Mallya is under pressure from his airline’s lenders to inject equity into Kingfisher, which has debt of $1.3 billion.

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