Vijay Mallya owned Kingfisher Airlines (KFA) is yet to get a clean sky free from clouds to start flying. The meeting between the core group of bankers and the debt ridden airline company held on Friday late evening remained inconclusive. The next meeting is scheduled on January 18 to get more clarify from the management.
"Nothing is concluded yet. We are meeting again. Kingfisher was not able to clarify bankers' queries pertaining to fund flows and future revival plan. It has to bring something concrete to the satisfaction of the lenders. Unless it does it, there will not be any final decision," a general manger from a large public sector bank dealing with the debt recast case told moneycontrol.com.
However, banks are hopeful that Mallya is closely working on a scheme of revival wherein he may sell stakes to any foreign airline. The company has already submitted a presentation of short revival plan to the Directorate General of Civil Aviation (DGCA) and a copy of which was also sent to lenders.
04/01/13 Saikat Das/moneycontrol.com
