Kingfisher Airlines needs to raise $1 bln by Nov 30 - SBI

NEW DELHI Wed Nov 7, 2012 3:47pm IST

Customers stand at a Kingfisher Airlines reservation office at the domestic airport in Mumbai, February 16, 2012. REUTERS/Vivek Prakash/Files

Customers stand at a Kingfisher Airlines reservation office at the domestic airport in Mumbai, February 16, 2012.

Credit: Reuters/Vivek Prakash/Files

Related Topics

Stocks

   

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)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Reliance Projects

Reliance Projects

Exclusive: Reliance plans $13 billion projects including new refinery.  Full Article 

Pharma Sector

Pharma Sector

In race for bigger margins, drug makers willing to lose the India "advantage".  Full Article 

Low Stocks

Low Stocks

Indian power station coal stocks lowest since 2012 blackouts.  Full Article 

Markets This Month

Markets This Month

Tata Motors, M&M top Sensex gainers  Full Article 

Google Drones

Google Drones

Google is testing unmanned drones to deliver anything from dog food to medicine.  Video 

#RiceBucketChallenge

#RiceBucketChallenge

In India, rice replaces ice in bucket challenge.  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage