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
- UPDATE 7-U.S. says Russia must pull convoy from Ukraine or face more sanctions
- U.S. strikes have slowed Iraq militants but not weakened them - Pentagon
- WHO warns of 'shadow zones' and unreported Ebola cases
- China gold exchange gains traction as yuan reforms stir interest
- Liverpool won't change attacking style says Rodgers
More than 70 percent of Indians are satisfied with the leadership of Prime Minister Narendra Modi since he took office nearly three months ago, an opinion poll showed, seeing in him the best hope to put the economy back on track. Full Article
India to hike iron ore royalty, miners may struggle to pass on extra cost. Full Article