Reuters logo
Kingfisher says will restart operations in phases
December 17, 2012 / 2:22 PM / 5 years ago

Kingfisher says will restart operations in phases

A passenger walks with her luggage in front of a Kingfisher Airlines reservation office at the domestic airport in Mumbai October 23, 2012. REUTERS/Danish Siddiqui/Files

NEW DELHI (Reuters) - Debt-laden and grounded Kingfisher Airlines (KING.NS) said on Monday it will “restart in a phased manner,” with own funding, and will not seek banks’ support.

Kingfisher, saddled with a debt load of $1.4 billion, has not flown since October, and is under immense pressure to raise equity fast to keep its licence intact.

“We have also shared a full recapitalisation plan which will be further discussed with a small designated group of bankers,” Kingfisher said in a statement, after a meeting with its lenders.

Reporting by Anurag Kotoky; Editing by Devidutta Tripathy

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below