ICICI sells Rs.430 crore Kingfisher loan to Srei Infra debt fund

Mumbai: On a day of fast moving developments for the beleaguered Kingfisher Airlines, the leading private sector banker, ICICI Bank announced that it had sold its Rs. 430 crore exposure in the airline to Kolkata based SREI Infrastructure Finance. The private carrier was also jolted by the failure of talks between its management, pilots and other staff.
An ICICI Bank spokesperson said: ``we have recovered the entire debut exposure of Rs. 430 crore and currently we do not have any debt exposure to the Kingfisher airlines.’’ Reports from Mumbai indicated that the talks between the employees of Kingfisher including pilots, ground staff, technicians and the cabin crew with the airline CEO, Sanjay Aggarwal failed and the employees have decided to go ahead with their strike.
02/07/12 Sujay Mehdudia/The Hindu

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Categories: Kingfisher Jul 2012