Kingfisher fails to find billion-dollar boost by bankers’ deadline
Photo Credit: A Kingfisher A320 flight readies for departure from Chennai Airport. Flickr.com / Ashok Prabhakaran
Skift Take
There’s almost no chance outside investors will step in to save the ailing airline when even owner Vjiay Mallya is hesitant to divert funds into its resurrection.
Lenders to Kingfisher Airlines said they are yet to hear from the grounded airline even as the deadline set by the bankers to bring in fresh equity of one billion dollars ended on Friday.
However, a banker sounded optimistic about a meeting between the lenders' consortium and the airline "in the next fortnight".
"We have not heard from the airline yet and I expect some meeting between the consortium and the airline to happen in the next fortnight," Shyamal Acharya, deputy managing director in charge of mid corporate group at State Bank of India, the lead banker, told .
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