Saturday, June 23, 2012

Kingfisher Lenders to meet next week:

The 18-bank consortium of lenders to Kingfisher Airlines is likely to meet next week to take a call on the debt-ridden carrier's call for additional funds, so that it could standardise its debts which are now bad assets.

SBI is the leader of the lenders' consortium which has 18 banks out which 14 are state-owned. The Bangalore-based carrier, which has not been paying salaries to employees for the past four months besides defaulting on tax payments as well as bills to its vendors, has been seeking fresh bank funding since last December apart from raising overseas funds. 

Bankers have been resisting the demand saying the promoters, including Mallya, have to bring in at least Rs 2,000 crore as fresh capital to consider the demand.

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