Shares of ailing Kingfisher Airline gained just after its parent United Breweries Holdings Ltd. has announced to provide additional loans of Rs.450 crore to grounded airline, reports said. Read more
ICICI sells 4 billion Kingfisher loan to Srei Infrastructure Finance
As per latest business report, beleaguered Kingfisher Airlines is seeking repayment of its debts by selling assets held against their loans raising scope of outside investment.
Loosing the hopes of lenders, as per source, one of Kingfisher’s lenders, ICICI Bank has sold about 4 billion rupees of the Kingfisher Airlines’s assets against debts to a debt fund managed by the Kolkata-based Srei Infrastructure Finance on Monday. Read more
Govt. may cancel Kingfisher Airline’s license: Ajit Singh
The latest business news reveals that the Kingfisher Airlines [KFA] seems to be in trouble once again.
The respected Civil Aviation Minister Ajit Singh has recently said in a press that the Kingfisher Airline has not adhered to plans crucial for its workings. The minister further said that the central government may cancel KFA’s license.
Bharat Bhushan, The Directorate General of Civil Aviation added that inspite of number of warnings on different fronts; the kingfisher airline has not been able to make all the required corrections. Read more
Jet Airways will fix Feb bank accounts till Monday
The next targeted point of Tax authorities is the top Indian carrier Jet Airways which banks accounts, the authorities will have frozen.
A 24 hours ultimatum has been given to Airways to clear its outstanding dues of payment about 690 million Indian rupees and if the career does not do the same then the I-T department will do as it did with Kingfisher the cash scrapped airline.
“They have 24 hours to make the payment, failing which their accounts will be frozen,” reportedly said by SK Goel, the chairman of the Central Board of Excise and Customs. Read more