Kingfisher Airlines is trading higher by about 5% at Rs 10.90, bouncing back 10% from intra-day low on the Bombay Stock Exchange on hopes of striking workers will return to work after the management agreed to pay three months salary by November 13.
On Monday, Kingfisher management had agreed to pay the salary of March (which has been paid to only 2,000 of the 4,000 striking employees) within 24 hours while the April salary will be paid within a week and May salary before the festival of Diwali.
According to media reports, a majority of Mumbai pilots and engineers have accepted the salary offer.
The stock opened at Rs 9.90 and has seen a combined 31.22 million shares changing hands on the counter so far on the NSE and BSE. The stock snapped its four-day losing streak after falling over 17% in the last four sessions.
