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
- China building South China Sea island big enough for airstrip - report
- China's rate-cut likely to hurt banks, curb new loans to small borrowers
- Pakistani family sentenced to death over "honour killing" outside court
- Hitler watercolour fetches 130,000 euros at Nuremberg auction
- Obama to be chief guest at Republic Day celebrations
Prime Minister Narendra Modi has a long list of pro-growth measures to implement over the next four months, but time may have already run out to breathe enough life into the economy to meet the tough 2014/15 fiscal deficit target without cuts. Article