Monday 14 November 2011
Kingfisher Airlines board meets Reeling under a severe debt crisis
Reeling under a severe debt crisis, the board of Kingfisher Airlines is meeting on Monday to work out a stuctured life support package. The meeting's top agenda will be to figure out how to slash the huge debt burden that's dragging down the airline.
On the list of options before the board are selling property, converting loans from its parent company UB Group into equity and changing terms under which the airline leases aircraft.
According to Mail Today, Kingfisher suffered a loss of Rs. 1,027 crore in 2010-11 and is reeling under a mounting debt of Rs. 7,057.08 crore.
On the list of options before the board are selling property, converting loans from its parent company UB Group into equity and changing terms under which the airline leases aircraft.
According to Mail Today, Kingfisher suffered a loss of Rs. 1,027 crore in 2010-11 and is reeling under a mounting debt of Rs. 7,057.08 crore.
