‘Trying to help revive Kingfisher’

Dec 06 2012, 01:27 IST
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SummaryThe State Bank of India, 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 carrier’s financial troubles.

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 carrier’s 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 airline’s flying licence on October 19.

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