Bangalore: Kingfisher lenders will give all chances to the grounded airline to restart operation even as bankers are concerned over their outstanding dues, SBI Chairman Pratip Chaudhuri said on Monday. The chief of State Bank of India, which heads the 17-member lenders' consortium, also said, "We don't give up hope till they say no."
The 17-bank consortium has extended Rs 7,000 crore loans to Kingfisher. SBI alone has an exposure of Rs 1,500 crore, which has not been serviced since January, 2012.
"This (meeting of lenders) will be happening soon ... we are giving every opportunity to the company to restart operation. At the same time we are also mindful of the outstanding that the company owes to the bank. So we are doing fine balancing act," Chaudhuri said. As per the revival plan submitted to the Directorate General of Civil Aviation (DGCA) in December 2012, Kingfisher had said it would require about Rs 652 crore over the next 12 months for running its operations.
11/02/13 PTI/IBN Live
