State Bank of India , which leads the consortium of lenders for Kingfisher Airlines, today described the Vijay Mallya promoted UB Group's decision to sell majority stake to Diageo for over Rs 11,166 crore as a positive development.
It said a meeting would be held with the airline's management soon.
The deal may provide Mallya a breather from troubles emanating from his grounded Kingfisher Airlines.
"This is obviously positive news for us. We do think money flowing into the hands of the main holding company and the promoter is a positive for the airline," SBI Managing Director, Mid-Corporates, S Vishwanathan told reporters whileannouncing the second quarter earnings of the bank here.
"A meeting would be held between the lenders and the airline management after Diwali now that this deal is through," he said.
09/11/12 PTI/moneycontrol.com
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It said a meeting would be held with the airline's management soon.
The deal may provide Mallya a breather from troubles emanating from his grounded Kingfisher Airlines.
"This is obviously positive news for us. We do think money flowing into the hands of the main holding company and the promoter is a positive for the airline," SBI Managing Director, Mid-Corporates, S Vishwanathan told reporters whileannouncing the second quarter earnings of the bank here.
"A meeting would be held between the lenders and the airline management after Diwali now that this deal is through," he said.
09/11/12 PTI/moneycontrol.com
