Government lender State Bank of India (SBI) on Monday said its increased non-performing assets (NPA) are due to its exposure to iron, steel and textile sectors while recovering the dues from Kingfisher Airlines would be a protracted legal affair. ...
09:37 PM, Feb 18, 2013
UB Group, the parent of debt-laden Kingfisher Airlines, said it was in talks with lenders to the carrier to cut their exposure by using proceeds from a stake sale in a group company to Diageo Plc. ...
02:03 PM, Feb 15, 2013
Kingfisher lenders hope to recover up to Rs 1,000 crore of their dues by monetising the securities in the March quarter itself, a senior official of SBI said on Thursday. "That (selling the securities given as collaterals) is the plan," Shyamal Acharya, SBI Deputy Managing Director (Mid-Corporates Accounts), said at the bank's December earnings press conference in Mumbai. ...
02:58 AM, Feb 15, 2013
Kingfisher lenders on Tuesday finally decided to start the recovery process for Rs 7,500-crore loans given to the grounded airline, a top official of State Bank of India said. ...
10:17 PM, Feb 12, 2013
Kingfisher lenders will give all chances to the grounded airline to restart operation even as bankers are concerned over their outstanding dues, SBI Chairman Pratip Chaudhuri said on Monday. The chief of State Bank of India, which heads the 17-member lenders' consortium, also said, "We don't give up hope till they say no." ...
03:21 AM, Feb 12, 2013
With the revival plan of grounded Kingfisher Airlines getting nowhere, its lead lender State Bank on Saturday said the creditors will meet in a fortnight to decide the future course of action to secure their money even as the airline chairman Vijay Mallya met employees to reassure them of the plan. ...
03:40 AM, Feb 10, 2013
Debt-ridden and with no customers, Kingfisher Airlines Ltd posted a Rs 755 crore loss in the three months to December 31 as its planes sat idle, creditors circled and regulators rebuffed the Indian airline's revival plans. ...
11:12 AM, Feb 05, 2013
Kingfisher Airlines(KING.NS) needs at least 10 billion rupees to restart its grounded operations and must also demonstrate an ability to sustain itself for at least 6 months, Civil Aviation Minister Ajit Singh said on Tuesday. ...
01:59 AM, Jan 23, 2013
The Supreme Court on Tuesday deferred hearing on Vijay Mallya-owned Kingfisher Airlines's plea challenging Karnataka High Court's order to deposit around Rs 185 crores with the Income Tax Department as tax deducted at source (TDS) from its employees' wages. A bench headed by Justice DK Jain deferred the hearing for four weeks after senior advocate Harish Salve, appearing for the airlines, submitted that "serious negotiations are going on between the...
09:21 PM, Jan 22, 2013
Kingfisher Airlines needs to invest at least Rs 2,000 crore to restart its operations, said one of its lenders, State Bank of India's Chairman Pratip Chaudhuri. SBI is the lead banker in the 17-lender consortium that extended Rs 7,000 crore loans to the now grounded Kingfisher Airlines. ...
06:09 PM, Jan 22, 2013
Mumbai-based pilots of grounded Kingfisher Airlines on Monday served it an ultimatum to clear their dues by January 31 or face another winding-up petition even as the beleagured management on Monday appealed to its Delhi-based engineers not to resort to any legal action. ...
04:42 AM, Jan 22, 2013
Former Kingfisher Airlines pilots have sent a legal notice to the management seeking compensation for mental harassment and salary dues, according to sources. The management has been given a period of 21 days to comply with the notice. ...
11:43 AM, Jan 21, 2013
Kingfisher Airlines should infuse at least Rs 2,000 crore as capital for reviving the carrier, State Bank of India Chairman Pratip Chaudhuri said on Saturday. Kingfisher Airlines, promoted by Vijay Mallya, owes Rs 7,500 crore to a consortium of 17 banks led by SBI. ...
01:37 AM, Jan 20, 2013
A meeting between the core lenders group and the grounded Kingfisher Airlines, which is trying to resume operations by February, ended inconclusively in Mumbai on Friday evening, as the airline failed to table a concrete revival plan. ...
09:27 PM, Jan 18, 2013
Vijay Mallya-owned Kingfisher Airlines on January 16 approached the Supreme Court challenging the Karnataka High Court's order directing it to deposit around 185 crores with the Income Tax Department as tax deducted at source (TDS) from its employees' wages. ...
05:53 PM, Jan 16, 2013
Kingfisher Airlines has been given a "no objection certificate" from oil companies and some aircraft leasing companies to restart operations, a senior regulatory source said on Wednesday. Kingfisher shares extended gains to 6 percent on the news. ...
11:34 AM, Jan 16, 2013
Kingisher Airlines' planned investment of Rs 650 crore is not enough to restart operations at the grounded Indian carrier, a senior government source said on Friday. ...
11:42 AM, Jan 11, 2013
In more trouble for beleaguered Kingfisher Airlines, Service Tax Department has issued a notice to the carrier, "impounding" all its aircraft, department sources said on Thursday night. According to the notice, the airline cannot fly outside the registered airport premises. ...
11:04 PM, Jan 10, 2013
Beleaguered Kingfisher Airlines on Wednesday faced fresh trouble with its employees deciding to move court seeking a formal closure of the company if it did not spell out future plans giving a time-line for clearing their salary dues of eight months. ...
05:32 PM, Jan 09, 2013
Kingfisher lenders will soon decide on future course of action with regard to the grounded airline as they do not want the company to close down, State Bank of India (SBI) said on Monday. "The representatives met in Bangalore ... the plan for action the consortium is deciding. We don't want to put a lock on the company's office," the Chairman of SBI, lead lender to Kingfisher, Pratip Chaudhuri said...
05:30 AM, Jan 08, 2013
