- Govt willing to support Kingfisher Airlines revival plan if employees' dues cleared: sourceKingfisher Airlines shares fall after posting quarterly lossVijay Mallya's United Breweries auditors fear Kingfisher Airlines exposureKingfisher Airlines loss at $142 mn in Q3 as planes sit idle, waiting for Vijay Mallya's next move
as the company failed to come up with any specific revival plan. has been grounded since October 1 last after a labour unrest broke out due to non-payment of salaries.
SBI has the maximum exposure with Rs 1,600 crore, followed by Punjab National Bank with Rs 800 crore, IDBI Bank Rs 800 crore, Bank of India Rs 650 crore and Bank of Baroda Rs 550 crore. All the 17 banks have provided for their exposure to the airline and declared them as bad loans. The airline has not serviced the loan since January 2012.
While the airline is sitting on a debt of over Rs 7,500 crore in bank loans, accumulated losses and unpaid salaries, taxes, and vendor dues amount to over 10,000 crore.