Chennai: There finally seems to light at the end of the tunnel for Kingfisher Airlines.
Almost three years after the carrier stopped flying, and had its permit suspended by the Directorate General of Civil Aviation, its chairman Vijay Mallya, has offered banks to pay the principal amount that he owes.
However he has stated that he shall not be paying the interest component. Seeking a closure to this issue, Mallya has reportedly approached bankers for a meeting later this week. Sources say that the principal amount that the airlines owes to the banks is between Rs 4,500 crore to Rs 5,000 crore. But despite Mallya stating his inability to pay the interest, bankers might want him to pay at least a significant a part of the Rs 2,000 crore interest.
25/11/15 News Today
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Almost three years after the carrier stopped flying, and had its permit suspended by the Directorate General of Civil Aviation, its chairman Vijay Mallya, has offered banks to pay the principal amount that he owes.
However he has stated that he shall not be paying the interest component. Seeking a closure to this issue, Mallya has reportedly approached bankers for a meeting later this week. Sources say that the principal amount that the airlines owes to the banks is between Rs 4,500 crore to Rs 5,000 crore. But despite Mallya stating his inability to pay the interest, bankers might want him to pay at least a significant a part of the Rs 2,000 crore interest.
25/11/15 News Today
