Transcript of "Effect on hrm of kingfisher airlines crisis"
EFFECT ON HRM OF KINGFISHERAIRLINES CRISIS PREPARED BY NIRMIT DOSHI MOHIT VYAS JIGAR JAIN
INCEPTION Established in 2003 Started operation’s on 9th may 2005 Never made even a single rupee profit http://en.wikipedia.org/wiki/Kingfisher_Airlines
LOSS YEAR BY YEAR http://en.wikipedia.org/wiki/Kingfisher_Airlines_financial_crisis
CRISIS Kingfishers net loss more than doubled to Rs 2,328 crore in 2011-12, from Rs 1,027 crore in the previous year Debt of 7524 crore. Bank freezed all accounts due to non repayment of loans Restriction over landing of flights at mumbai airport.http://businesstoday.intoday.in/story/business-model-behind-kingfisher-airlines-mess/1/189224.html
EFFECT ON HUMAN RESOURCE MANAGEMENT The airline had a total of 5,696 employees for the year ended March 31, 2012, down from 7,317 employees in the previous year. Costs towards employee remuneration fell by one per cent to Rs 669.5 crore during the year ended March 31, 2012. In the same year the pay package of its CEO Sanjay Agarwal rose sharply by about 90 per cent from Rs 2.12 crore to Rs 4.01 crorehttp://articles.economictimes.indiatimes.com/2012-09-03/news/33563194_1_guarantee-and-security-commission-kingfisher-airlines-kingfisher-staff
Mallya was paid guarantee and security commission of about Rs 51 crore. Employees were not being paid their dues from a long time. As a result employees went on strike or leave or left the job 350 cabin crew left their job in the last yearhttp://articles.economictimes.indiatimes.com/2012-09-03/news/33563194_1_guarantee-and-security-commission-kingfisher-airlines-kingfisher-staff
The shortage is estimated at 200 air hostesses HRM has been constantly trying to call back the employees on strike. But they have failed previously to fulfill their promise to pay the salary and hence employees have no trust on them now. 150 recruits in this period are being trained, who are incapable of dealing with emergencieshttp://articles.economictimes.indiatimes.com/2012-09-03/news/33563194_1_guarantee-and-security-commission-kingfisher-airlines-kingfisher-staff
WORKS CITED 3 dec 2012 <http://articles.economictimes.indiatimes.com/2012-09- 03/news/33563194_1_guarantee-and-security-commission- kingfisher-airlines-kingfisher-staff>. 3 dec 2012 <http://businesstoday.intoday.in/story/yet-to-hear-from- kingfisher-airlines-on-revival-plan-sbi/1/190135.html>. 3 dec 2012 <http://en.wikipedia.org/wiki/Kingfisher_Airlines>. 3 dec 2012 <http://en.wikipedia.org/wiki/Kingfisher_Airlines_financial_crisis>. 3 dec 2012 <http://businesstoday.intoday.in/story/business-model- behind-kingfisher-airlines-mess/1/189224.html>.
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