State Bank of India (SBI), the lead bank to ailing Kingfisher Airlines, today cautioned the carrier that it "will not fly" if it fails to bring in fresh capital by November 30.
Banks' consortium has done everything possible to make the company (Kingfisher) work. Only the company is not working... The management has to get capital. We have given time till November 30 that they should get capital otherwise the company will not fly...," SBI Chairman Pratip Chaudhuri said.
He further said the airline would not be able to get investors if it is not flying.
Chaudhuri said the consortium of 17 banks have been meeting regularly to help the cash-strapped airline.
06/11/12 Indian Express
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Banks' consortium has done everything possible to make the company (Kingfisher) work. Only the company is not working... The management has to get capital. We have given time till November 30 that they should get capital otherwise the company will not fly...," SBI Chairman Pratip Chaudhuri said.
He further said the airline would not be able to get investors if it is not flying.
Chaudhuri said the consortium of 17 banks have been meeting regularly to help the cash-strapped airline.
06/11/12 Indian Express
