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
The BSE Sensex rose to a record high on Monday and the rupee hit a four-month high after the main opposition party BJP, widely seen by investors as being more business friendly, swept three out of four key state elections held since last month. Full Article