Kingfisher in talks with banks to reduce interest cost

Kingfisher Airlines is working with a consortium of banks to urther reduce interest costs.

hidden September 28, 2011 12:24:22 IST
Kingfisher in talks with banks to reduce interest cost

Kingfisher Airlines is working with a consortium of banks to

Kingfisher in talks with banks to reduce interest cost

Kingfisher Airlines Chairman Vijay Mallya. Reuters

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.

Reuters

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