New Delhi: As many as four banks are contemplating selling assets of beleaguered air carrier Kingfisher Airlines to asset reconstruction companies (ARCs) to recover part of their dues.
Led by SBI, the 17 bank consortium is struggling to recover Rs 6,963 crore debt due from Kingfisher Airlines.
"Three-four banks are looking for stake sale to ARCs to realise some value out of Kingfisher Airlines assets that they posses," sources said.
Without disclosing the names of the banks, they added that these lenders are weighing options and are in talks with asset reconstruction companies.
Earlier this week, Punjab National Bank, one of banks of the consortium, declared Kingfisher Airlines, its guarantors Vijay Mallya and United Breweries Holdings as wilful defaulters.
PNB became the third public sector lender to declare the beleaguered air carrier a wilful defaulter. Earlier, United Bank of India and State Bank of India had done the same.
19/02/16 PTI/Business Today
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Led by SBI, the 17 bank consortium is struggling to recover Rs 6,963 crore debt due from Kingfisher Airlines.
"Three-four banks are looking for stake sale to ARCs to realise some value out of Kingfisher Airlines assets that they posses," sources said.
Without disclosing the names of the banks, they added that these lenders are weighing options and are in talks with asset reconstruction companies.
Earlier this week, Punjab National Bank, one of banks of the consortium, declared Kingfisher Airlines, its guarantors Vijay Mallya and United Breweries Holdings as wilful defaulters.
PNB became the third public sector lender to declare the beleaguered air carrier a wilful defaulter. Earlier, United Bank of India and State Bank of India had done the same.
19/02/16 PTI/Business Today
