A day before making a presentation to lenders on revival plan of Kingfisher Airlines, its Chairman Vijay Mallya on Wednesday said the carrier is in talks with overseas airlines for investment.
When asked if the debt-ridden airline is in touch with overseas airlines for investment, Mallya said, "Yes, we are in talks." He, however, did not provide details citing "privacy and confidentiality" reasons.
Mallya also informed that his airline will be making a presentation to the SBI led consortium of banks.
"We have regular meetings with KFA banking consortium. I can confirm that there is meeting tomorrow. We will make presentation to them as requested," he told reporters on the sidelines of the annual general meeting of the UB Group.
When asked how beneficial will be the new FDI policy , which allows foreign airlines to pick stakes in domestic air carriers, for Kingfisher, Mallya said, "It is too early to say about the status report of the FDI policy ... There is an established FDI approval procedure. I see a normal course of business going to happen."
Two days ago, SBI, the lead bank of 17-member lenders consortium had expressed the hope that Mallya will come up with "something tangible" for its revival of Kingfisher in the wake of liberalisation in FDI in the sector.
Banks together have an exposure of nearly Rs 7,000 crore in the airline and the loans have all become non-performing assets since January. SBI has an exposure of Rs 1,500 crore to Kingfisher Airlines.
A worker is rightful for his salary on pay day and not on indefinete day. As per the contract the company is entitled to pay each and every employees of their company, Inspite of not paying and not paying indefinetly, still the company wants them to work? Nobody will work indefinitely for free months. The DFA is doing a great great blunder.
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