Kingfisher Bailout

Fugitive businessman Vijay Mallya, who is being investigated for fraud and money-laundering, said his now-defunct Kingfisher Airlines too could have been bailed out by lenders, similar to what happened with cash-strapped Jet Airways on Monday. He blamed banks for letting "India's finest airline" close its operations seven years ago.

Kingfisher Airlines has organized funds to pay overdue salaries, Chairman Vijay Mallya told staff in an email, offering assurances that he would reward employees who stay committed to the debt-crippled carrier. Separately, Mallya told the Times newspaper in London that Kingfisher was in talks with two unidentified foreign carriers about equity tie-...

In an internal letter to Kingfisher Airlines' employees, chairman Vijay Mallya has said he has arranged funds to pay overdue salaries. He added that the delay in payments is a "source of great personal sorrow".

SBI is studying a viability report prepared by its investment banking arm, SBI Capital Markets, and any decision on further lending to Kingfisher will be based on that as well as conditional on an infusion of funds into the airline, Deputy Managing Director R. Venkatachalam told Reuters in an interview from his Mumbai office on Saturday.

The uncertainty over a quick bank bailout grew with a Federal Bank official saying the 18-bank consortium lenders are looking at the viability of the proposal floated by SBI Caps and that "anything can happen only over the next two to three weeks."

Kingfisher Airlines on Thursday started truncated operations in accordance with its new flight schedule.

Kingfisher Airlines’shares shed over 6 per cent on the Bombay Stock Exchange (BSE) after lenders said that there was no decision taken by lenders' consortium to restructuring the debt.

While the cash-strapped Kingfisher Airlines continues to cancel flights everyday - 20 were cancelled Wednesday, lending banks have made clear that they have not agreed to extend further loans to the carrier. The government has already said repeatedly that it will not bailout Kingfisher Airlines, which has cancelled many flights all this week leavin...

RBI is not opposed to SBI extending support to the cash-strapped Kingfisher Airlines, its Deputy Governor K C Chakrabarty said.

Kigfisher crisis, bank loans, bailout

Lenders to Kingfisher Airlines have not agreed to extend further loans to the debt-crippled carrier, three banking sources said on Wednesday after reports that SBI had agreed on a bailout loan package.

The government has said repeatedly that it would not bailout Kingfisher Airlines. But there are reports that State Bank of India has suddenly sanctioned a Rs 1,200-crore package for Vijay Mallya’s bleeding carrier. Meanwhile, the airline cancelled at least 20 flights today, most of them out of Mumbai, continuing a trend it began over the weekend...

The government has said repeatedly that it will not bailout Kingfisher Airlines. But there are reports that State Bank of India has suddenly sanctioned a 1200-crore package for Vijay Mallya's bleeding carrier. Meanwhile, the airline cancelled at least 20 flights today, most of them out of Mumbai, continuing a trend it began over the weekend.

The Vijay Mallya-promoted airline is reportedly getting a Rs 1,200 crore package from State Bank of India.

In what may come as good news to crisis-hit Kingfisher Airlines, prominent banks that have lent to the airline have reportedly decided to provide a relief package to it, sources said.

Fugitive businessman Vijay Mallya, who is being investigated for fraud and money-laundering, said his now-defunct Kingfisher Airlines too could have been bailed out by lenders, similar to what happened with cash-strapped Jet Airways on Monday. He blamed banks for letting "India's finest airline" close its operations seven years ago.

Kingfisher Airlines has organized funds to pay overdue salaries, Chairman Vijay Mallya told staff in an email, offering assurances that he would reward employees who stay committed to the debt-crippled carrier. Separately, Mallya told the Times newspaper in London that Kingfisher was in talks with two unidentified foreign carriers about equity tie-...

In an internal letter to Kingfisher Airlines' employees, chairman Vijay Mallya has said he has arranged funds to pay overdue salaries. He added that the delay in payments is a "source of great personal sorrow".

SBI is studying a viability report prepared by its investment banking arm, SBI Capital Markets, and any decision on further lending to Kingfisher will be based on that as well as conditional on an infusion of funds into the airline, Deputy Managing Director R. Venkatachalam told Reuters in an interview from his Mumbai office on Saturday.

The uncertainty over a quick bank bailout grew with a Federal Bank official saying the 18-bank consortium lenders are looking at the viability of the proposal floated by SBI Caps and that "anything can happen only over the next two to three weeks."

Kingfisher Airlines on Thursday started truncated operations in accordance with its new flight schedule.

Kingfisher Airlines’shares shed over 6 per cent on the Bombay Stock Exchange (BSE) after lenders said that there was no decision taken by lenders' consortium to restructuring the debt.

While the cash-strapped Kingfisher Airlines continues to cancel flights everyday - 20 were cancelled Wednesday, lending banks have made clear that they have not agreed to extend further loans to the carrier. The government has already said repeatedly that it will not bailout Kingfisher Airlines, which has cancelled many flights all this week leavin...

RBI is not opposed to SBI extending support to the cash-strapped Kingfisher Airlines, its Deputy Governor K C Chakrabarty said.

Kigfisher crisis, bank loans, bailout

Lenders to Kingfisher Airlines have not agreed to extend further loans to the debt-crippled carrier, three banking sources said on Wednesday after reports that SBI had agreed on a bailout loan package.

The government has said repeatedly that it would not bailout Kingfisher Airlines. But there are reports that State Bank of India has suddenly sanctioned a Rs 1,200-crore package for Vijay Mallya’s bleeding carrier. Meanwhile, the airline cancelled at least 20 flights today, most of them out of Mumbai, continuing a trend it began over the weekend...

The government has said repeatedly that it will not bailout Kingfisher Airlines. But there are reports that State Bank of India has suddenly sanctioned a 1200-crore package for Vijay Mallya's bleeding carrier. Meanwhile, the airline cancelled at least 20 flights today, most of them out of Mumbai, continuing a trend it began over the weekend.

The Vijay Mallya-promoted airline is reportedly getting a Rs 1,200 crore package from State Bank of India.

In what may come as good news to crisis-hit Kingfisher Airlines, prominent banks that have lent to the airline have reportedly decided to provide a relief package to it, sources said.