SBI rules out further funding for Kingfisher

Dec 17 2012, 22:35 IST
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SummaryState Bank of India ruled out any further funding for the debt-ridden Kingfisher Airlines, Shyamal Acharya, deputy managing director- mid corporates, said on Monday.

not seek banks' support.

Kingfisher, saddled with a debt load of $1.4 billion, has not flown since October, and is under immense pressure to raise equity fast to keep its licence intact.

"We have also shared a full recapitalisation plan which will be further discussed with a small designated group of bankers," Kingfisher said in a statement, after a meeting with its lenders.

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