Monday, January 9, 2012

EXCLUSIVE! Consortium of Banks to meet Kingfisher management

Neelam Mathews
Jan 9, 2012

Aerospace Diary has learnt the consortium of banks that has lent funds to Kingfisher Airlines, is meeting with the carrier's  top management in Bangalore today. It is not clear if Chairman Vijay Mallya will attend.

"Kingfisher is a NPA (non-performing asset) for us. They are in default," SBI chairman Pratip Chaudhuri said in New Delhi recently.

SBI is the airline's largest creditor of the consortium of banks with Rs 1,457.78 crore. SBI had asked Kingfisher to repay Rs 500 crore loans to upgrade to standard assets within 90 days.

Aerospace Diary has also learnt Kingfisher may add another member to its senior management team soon.

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