Kingfisher remains a non-performing asset, says SBI

Kingfisher Airlines' largest creditor SBI on Thursday said the company continues to be a bad asset and the carrier will have to come with an equity infusion plan, even as the Vijay Mallya-promoted airline is knocking at the government's door for more time to pay loans.
"Kingfisher continues to be an NPA (non-performing asset). The company will have to infuse more equity," SBI Chairman Pratip Chaudhuri told reporters in Delhi.
"Kingfisher loan has become NPA for the last one month or so. I don't think Kingfisher loan has reached that stage that loan would have to be sold," he said, adding, no fresh sanctions are being done to the airline.
On equity infusion from promoters in Kingfisher, he said, "The company will have to come with a proposal. They have not come up with any proposal."
Airlines, including Kingfisher, have to get equity, he said, adding, "whosoever brings in equity or capital or interest free capital is a welcome. We don't have any particular preference or negative list."
20/01/12 PTI/Daily Bhaskar

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Categories: Kingfisher Jan 2012