Trying to help revive Kingfisher

Written by Press Trust of India | Mumbai | Updated: Dec 6 2012, 06:57am hrs
The State Bank of India (SBI), the lead banker in the 17-lenders consortium that extended R7,000-crore loans to the now grounded Kingfisher Airlines, has said the banks are trying to do everything to find an amicable solution to the carriers financial troubles.

The SBI comment comes a week after the expiry of the deadline that the lenders had set to the airline management to come up with a revival plan, that includes a $1-billion capital infusion.

Kingfisher is a good company with a high brand value and lenders are trying to do everything to see that an amicable solution is found, SBI MD & CFO Diwakar Gupta told reporters. The regulator, DGCA, suspended the airlines flying licence on October 19.