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Kingfisher lenders left in the lurch

Lenders to Kingfisher Airlines have been left in the lurch, with most hoping the airline resumes operations, as this would ensure at least some revenue flow.

Business Standard spoke to ten of the airline’s lenders. Bankers claimed though the loans were backed by collateral and guarantees, they had little option to either sell the assets or securities, or invoke guarantees.

State Bank of India (SBI) Managing Director (mid-corporate) S Vishwanathan said banks were already prepared for contingencies such as temporary suspension. He, however, added the last thing the airline needed was a complete shutdown. “We would like the airline to resume operations and repay the debt,” he said. With an exposure of about Rs 1,500 crore, SBI is the leader of the 17-bank consortium of lenders to Kingfisher Airlines. The consortium’s total exposure to the airline stands at Rs 7,000 crore.

 

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Indian Bank Q2 profit up 6%; NPAs rise

Indian Bank, a Chennai based leading public sector bank, posted a increase of 5.97% in net profit of Rs 4.96 billion for the quarter ended September 30, 2012 as compared ...

Banks may have to put up with rising NPA levels for another year: Bankers

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Lenders to KFA say recovery measures will be the last resort

Mumbai: Lenders to Kingfisher Airlines, whose combined exposure of nearly Rs. 7,500 crore is at risk, have said they will go in for recovery measures only as the last res...
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