Amid UPA’s liberalization reform of FDI in retail, the beleaguered KFA airline is in touch with foreign airline ensuring FDI investment in aviation.
Confirming its talk with overseas airline, Kingfisher Airlines (KFA) chairman Vijay Mallya said, “Yes, we are in talks”, adding “It is a bit early to say there is a status report that I can show. The government announced the policy only 10 days ago.” Read more
On Friday, The chairman of Kingfisher’s airline, Vijay Mallya, had troubled to fight the battle on multiple fronts. In international market, Mallya is the business man, who compared with flamboyant British entrepreneur Richard Branson.
Though, his company is now going through tough time and facing some financial disaster. By putting all things in the right way, he has planned to raise a loan and met Pratip Chaudhuri, chairman of India’s largest bank SBI for a short-term loan of Rs 400 crore to meet working capital requirements like Pratip Chaudhuri, chairman of State Bank of India and to repossess 16 aircraft for delay in payment of rentals.
The bank enforced him for letters of credit and guarantees, which would raise the amount of capital by Rs 445 crore. Read more
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