Mallya will rope in investors into KFA, says Ajit Singh

Civil Aviation minister Ajit Singh says that promoter Vijay Mallya is confident of roping in investors into Kingfisher. He has also asked the directorate general of civil aviation (DGCA) to prepare its report on the ailing carrier.
The government today said that SBI has no plans to provide fresh loans to debt-ridden Kingfisher Airlines , even as Mallya sought banks help to get its accounts de-frozen.
"SBI has informed that currently there is no such plan to provide additional loan to Kingfisher Airlines," Finance Minister Pranab Mukherjee said in Rajya Sabha to a query if State Bank of India (SBI) had initiated a proposal to bailout the airline by sanctioning fresh loan of Rs 1,500 crore.
In the Parliament House Complex, Mallya told reporters that while the airline is "facing a serious handicap" as its accounts are frozen, it does not require bailout from the government.
"We are not asking for bailout from the government but hope for help from banking sector to de-freeze our accounts," he said.
14/03/12 PTI/Moneycontrol.com

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Categories: Kingfisher Mar 2012