Kingfisher Air Pledges Brand, Furniture for $1.2 Billion Loans

Kingfisher Airlines Ltd., the Indian carrier seeking cash after losses, pledged assets ranging from its brand to office furniture for bank loans of as much as 64.2 billion rupees ($1.2 billion).
A luxury villa in the western Indian state of Goa, two helicopters, a building in Mumbai and shares have also been used as collateral for loans as of Nov. 30, Junior Finance Minister Namo Narain Meena said in response to a question in parliament in New Delhi yesterday. The total value of the guarantees, including furniture and fixtures worth 3.3 billion rupees, was 52.4 billion rupees, he said.
09/12/11 Karthikeyan Sundaram/Bloomberg.com

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Categories: Kingfisher Dec 2011