Kingfisher Airlines needs to raise $1 bln by Nov 30 - SBI
NEW DELHI (Reuters) - Ailing Kingfisher Airlines (KING.NS) needs to raise or commit at least $1 billion by November 30, the chairman of State Bank of India told reporters on Wednesday, adding that lenders are not looking at liquidating the carrier's assets as of now.
The bank is the leader of a 17-bank consortium, which has lent about $1.4 billion to the debt-ridden carrier.
Kingfisher, once India's second-largest airline, has not flown since the start of October after a protest by employees, unpaid since March, turned violent.
(Reporting by Anurag Kotoky)
- Tweet this
- Share this
- Digg this
U.S. Secretary of State John Kerry told Prime Minister Narendra Modi on Friday that India's refusal to sign a global trade deal had sent the wrong signal, and urged New Delhi to work to resolve the row as soon as possible. Full Article
China PMIs jump to multi-month highs in July, add to view economy is steadying Full Article