Kingfisher in talks with banks to reduce interest cost
Kingfisher Airlines is working with a consortium of banks to urther reduce interest costs.
Kingfisher Airlines is working with a consortium of banks to
further reduce interest costs, while the carrier is looking at sale and lease back of some of its aircraft to reduce loans, its Chairman said at the company's annual shareholders meeting.
"The consortium of banks is currently appraising the enhanced working capital request to cater to the strong growth and higher fuel costs," said Vijay Mallya, according to a speech copy submitted to the exchanges.
The airline's auditors had said in the company's annual report that it needs capital infusion to remain viable.
Disgruntled pilots, who have not been paid salaries for nearly two months, took the unusual step of airing their grievances on the flight announcement system.<br /><br />
Is Kingfisher Airlines really in trouble? Or is it ensuring that its woes get played up by the media well enough to force the government to ease FDI rules , which is exactly what Vijay Mallya wants?