If we go by the latest press release of Kingfisher; it appears that the company is now at the mercy of its lenders namely banks and govt. The press release is as appended below:
"There is, however, much speculation on whether we are going to lay off a large number of our staff. To clarify, we are in a "holding" pattern right now and are waiting for various decisions from the Government and our Consortium of Bankers on FDI policy, working capital funding, etc. All of these will have a major impact on the staffing decisions we will have to make."
Kingfisher has always tried to outsmart the traveller as this time in order to dump its tickets on unsuspecting travellers it got into league with online ticketing portals by using the opaque fare scheme which is nothing less than a scam as Jet Airways has taken these portals to task.
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