Millennium Post

KFA lenders to meet soon to decide future course

Kingfisher’s bankers, which have over Rs 7,500 crore locked in the ailing airline, will soon meet to chart out the future course of action, said PNB chairman and managing director K R Kamath.

‘The bankers will sit and decide what is the situation now and what they will do,’ Kamath said.

Punjab National Bank (PNB) is part of the SBI-led consortium of 17 banks that has exposure in the cash-strapped airline. ‘The leader (State Bank of India) will convene the meeting,’ Kamath said. Last week, the Directorate General of Civil Aviation (DGCA) suspended licence of beleaguered airline following its failure to come up with a viable plan for financial and operational revival.
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