Bankers to meet Kingfisher officials today

Mumbai, Jan. 17:  

A core group of bankers will meet Kingfisher Airlines’ officials on Friday to consider the way forward on their Rs 7,500-crore exposure to the beleaguered airlines. The moot question is whether the airline can be revived or they should proceed with recovery action.

According to M .V. Tanksale, Chairman and Managing Director, Central Bank of India, “Calling it a day is the easiest job, but we have to make sure that the airline can sail through. Tomorrow will be a challenging day for the bankers and Vijay Mallya (KFA promoter) himself.”

“Reports say that by February, seven of KFA’s aircraft will be flying. If some hopes (for revival) are there, we will be there to support the hopes,” Tanksale told newspersons.

Despite the enthusiasm on the Mallya-led United Spirits Ltd and UK-based Diageo deal (Rs 11,166-crore) about two months ago, Tanksale said, “Nobody is sure how much cash and when the cash will be in and when the deal will take place. That is why we are back to square one.”

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