Sunday, January 6, 2013

Closed Necon Air staff seek salary

Staff of closed down Necon Air complained that they have not yet been able to receive their due salaries.
"We were assured of getting our due salary by prime minister Dr Baburam Bhattarai nine months ago," said president of Employees Struggle Committee of former Necon Air Basudev Prasad Upadhaya.
"But after nine months too we have been unable to receive our due salaries," he said, adding that the closed-Necon Air owes around Rs 60 million to some 256 employees.
The former employees of the country's first private airlines have been demanding their outstanding salaries due from promoters since 2003. They had even filed a case at the Labour Court, which gave a verdict in their favour. Yet, they have not been able to get their due salaries.
The former employees had also locked up former managing director of Necon Air Dip Mani Rajbhandari in his office in Baneshwor to pressurise him to pay the due salaries. "But he asked us to meet another director Mukund Bhakta Shrestha," Upadhaya added.
After the closure of the airlines in 2003, its property was taken over by the banks as it failed to pay back loans. The closed airlines still has to pay millions to Tribhuwan International Airport (TIA), Nepal Oil Corporation (NOC) and various banks and financial institutions, apart from shareholders, who were duped. Though capital market regulator Securities Board of Nepal (Sebon) has been claiming to investigate on such companies and their promoters, it has also failed the shareholders.
Necon Air that began operations in September 1992 was a successful public company and considered a blue chip stock as it had been traded at around Rs 700 per unit share then. With the closure of the airlines. The airlines used to operate on domestic and international routes with six aircraft.

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