Kingfisher fails to finalise funding deal with lenders
Date: Feb 19, 2012
MUMBAI, February 19, 2012
Lenders to cash-strapped Kingfisher Airlines have failed to finalise a deal for providing additional funds to the firm despite six hours of discussions, until late Friday, although company Chairman Vijay Mallya said it was a ‘long, good and comprehensive' meeting.
The marathon meeting of 18 bankers — including the top officials of State Bank of India, Bank of Baroda and Corporation Bank — remained inconclusive and would be held again to decide if additional funding could be provided to the to debt-laden airline, sources said. The meeting was held here to discuss working capital and other loans for Kingfisher.
