Mumbai: State Bank of India (SBI) officials will meet the founders of Kingfisher AirlinesBSE 0.22 % in the next couple of days, S. Vishvanathan, the bank's deputy managing director said, after India allowed foreign airlines to take stakes in local carriers.
"(Vijay) Mallya is keen to keep control of Kingfisher... So the sense we have from him is that he is willing to do everything possible, including big sacrifices," SBIBSE -0.56 % Chairman Pratip Chaudhuri said, adding that the bank had no specific details on a reported sale of a stake in United SpiritsBSE 2.56 %.
India's decision this month to allow foreign carriers to invest in local airlines was welcomed by Kingfisher, which is saddled with a debt of $1.4 billion.
Earlier this month, the SBI chief was sounding pessimistic about the fate of its exposure to Kingfisher.
24/09/12 Economic Times
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"(Vijay) Mallya is keen to keep control of Kingfisher... So the sense we have from him is that he is willing to do everything possible, including big sacrifices," SBIBSE -0.56 % Chairman Pratip Chaudhuri said, adding that the bank had no specific details on a reported sale of a stake in United SpiritsBSE 2.56 %.
India's decision this month to allow foreign carriers to invest in local airlines was welcomed by Kingfisher, which is saddled with a debt of $1.4 billion.
Earlier this month, the SBI chief was sounding pessimistic about the fate of its exposure to Kingfisher.
24/09/12 Economic Times
