Mumbai: In their second attempt at recovering a part of the dues of over Rs 9,000 crore from now defunct Kingfisher Airlines, lenders will re-auction the airlines' trademarks, including Kingfisher logo and the once-famous tag-line 'Fly the Good Times' on Thursday, but at a lower reserve price of Rs 330.03 crore.
The 17-lender consortium led by State Bank of India has also put the Flying Models, Funliner, Fly Kingfisher and Flying Bird Device on the block. The one-hour e-auction of various trademarks of the airlines will begin at 1130 hrs. Bankers in April had made a failed attempt to sell brands and trademarks of the long grounded airlines, owned by the beleaguered airline promoter Vijay Mallya.
The auction turned out to be a damp squib as none of the bidders came forward due to higher reserve price of Rs 366.70 crore. This time banks have lowered the reserve price by 10 per cent to Rs 330.03 crore. The Kingfisher brand itself was valued at over Rs 4,000 crore by consultancy Grant Thornton when the airline was at its peak. In its annual report for 2012-13, KFA said, at its peak, it was the largest airline in the country with a five-star rating from Skytrax.
24/08/16 PTI/DNA
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The 17-lender consortium led by State Bank of India has also put the Flying Models, Funliner, Fly Kingfisher and Flying Bird Device on the block. The one-hour e-auction of various trademarks of the airlines will begin at 1130 hrs. Bankers in April had made a failed attempt to sell brands and trademarks of the long grounded airlines, owned by the beleaguered airline promoter Vijay Mallya.
The auction turned out to be a damp squib as none of the bidders came forward due to higher reserve price of Rs 366.70 crore. This time banks have lowered the reserve price by 10 per cent to Rs 330.03 crore. The Kingfisher brand itself was valued at over Rs 4,000 crore by consultancy Grant Thornton when the airline was at its peak. In its annual report for 2012-13, KFA said, at its peak, it was the largest airline in the country with a five-star rating from Skytrax.
24/08/16 PTI/DNA
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