Mumbai: Industry body Assohcam today suggested a bailout for the grounded Kingfisher Airlines following the government's decision to rescue the ailing national carrier Air India, saying there is no difference in the financial woes of both the airlines.
The suggestion comes within days of reports that LIC and the Employee Provident Fund Organisation (EPFO) snapped up the entire Rs 7,400-crore bond issue of the debt-ridden Air India.
"If Air India deserves to be given a bailout package, there is no reason why Kingfisher should be treated differently by banks and government organisations," Assocham Secretary General D S Rawat said in a statement.
Rawat's statement also comes days ahead of the November 30 deadline set by the bankers to the Kingfisher promoters to pump in fresh capital to the tune of USD 1 billion and table a comprehensive revival plan.
26/11/12 PTI/Economic Times
