Kingfisher Airlines to sell off Mumbai office building

Bangalore: Cash-strapped Kingfisher Airlines plans to raise between Rs 90 crore and Rs 100 crore from the sale of its corporate office building in Mumbai.
Bankers belonging to the lending consortium told Business Line that the airline has approached the bank to give a go-ahead for the sale of Kingfisher House, located on the Western Express Highway. “The file is with the heads of banks now, and any decision on the approval is yet to be conveyed to the company,” said a bank official.
“However, there is no specific reason for the delay, and it is just taking the procedural time,” he clarified. The company has mortgaged the building to some of the banks of the lending consortium.
29/05/12 Anjana Chandramouly/Nivedita Ganguly/Business Line

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Categories: Kingfisher May 2012