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SBI refuses to confirm reports on bailout to Kingfisher

The State Bank of India (SBI) has refused to confirm reports that the bank has decided to extend a relief package to the crisis-hit Kingfisher Airlines.

Kingfisher Airlines caused Rs 290 cr loss to AAI, says CAG

Jul 30, 2015    

New Delhi: Airports Authority of India's failure to take timely action against now defunct Kingfisher Airlines for non-payment of dues and allowing it to operate on credit basis led to losses worth Rs 290 crore, CAG has said.The Comptroller and Auditor General (CAG) has also said that the civil aviation ministry diluted its stand by allowing Kingfisher Airlines (KFA) to continue operations despite the carrier being a "wilful defaulter". Bogged down by mounting debt and operational issues, the Vijay Mallya-owned KFA was grounded in 2012 after aviation regulator DGCA cancelled its lice...

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