Kingfisher Airlines lenders to meet next week: SBI

Mumbai: The 18-bank consortium of lenders to Kingfisher Airlines is likely to meet next week to take a call on the debt-ridden carrier's call for additional funds, so that it could standardise its debts which are now bad assets.
"I think there would be one (meeting), next week," State Bank of India chairman Pratip Chaudhuri told reporters here after the bank's annual general meeting today.
SBI is the leader of the lenders' consortium which has 18 banks out which 14 are state-owned.
The Bangalore-based carrier, which has not been paying salaries to employees for the past four months besides defaulting on tax payments as well as bills to its vendors, has been seeking fresh bank funding since last December apart from raising overseas funds.
22/06/12 PTI/Economic Times

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Categories: Kingfisher Jun 2012