AIBEA employees oppose Kingfisher Airlines bailout; urges RBI to recover loans

Mumbai: Opposing the bailout of Kingfisher Airlines, the All India Bank Employees Association (AIBEA) Wednesday urged the Reserve Bank of India ( RBI) to first recover loans given to the airline.
"Already 13 banks have extended a total credit of more than Rs.7,000 crore. Twice these loans have been restructured in order to avoid the loan being defined as bad loans," said AIBEA general secretary Vishwas Utagi.
AIBEA has also advised all its nominee workman directors on the boards of the banks to oppose any further bailout or credit facility to the airline.
16/11/11 IANS/Economic Times

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Categories: Kingfisher Nov 2011