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Lenders to start recovery of Kingfisher Airlines' loans

Kingfisher lenders, on Tuesday,decided to start the process of recovering Rs. 7500 crore outstanding loans from the grounded airline, saying the company has failed to come up with any specific...

Lenders take over key property of grounded Kingfisher Airlines

Feb 25, 2015    

MUMBAI (Reuters) - Grounded carrier Kingfisher Airlines, founded by flamboyant liquor baron Vijay Mallya, said on Tuesday it had handed over possession of a property to a group of lenders to which it owes about $1.5 billion.Kingfisher, once India's second-biggest airline, stopped flying more than two years ago for want of cash, leaving its creditors, mostly state-run banks, and suppliers with pending dues.The lenders had been trying to take possession of Kingfisher House in Mumbai for nearly two years, but the takeover had been delayed by legal issues. A Mumbai court this month ordered Kingfis...

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