Quick recovery of $1.4 billion Kingfisher debt unlikely: SBI
10 JUL, 2012
SYDNEY: A full recovery of $1.4 billion in loans owed by embattled carrier Kingfisher Airlines was unlikely in the short term and banks have told the airline to infuse equity, the chairman of State Bank of India said on Tuesday.
Kingfisher Airlines, controlled by liquor baron Vijay Mallya, last week won more time from lenders to develop a turnaround plan. It has never made a profit in the struggling Indian airline industry and has grounded most of its fleet.
“It is looking….”