New Delhi: Lenders’ to the beleaguered Kingfisher Airlines’ (KFA) are pinning their hopes on the private carrier’s promoter Vijay Mallya coming up with a concrete revival plan for the airline on Monday.
Monday’s meeting of the 17-bank consortium with Vijay Mallya assumes significance as it comes in the backdrop of reports that Abu Dhabi carrier Etihad and KFA promoters have renewed their deal talks.
KFA is expected to make a presentation on the concrete revival plan, if any, formulated as required by the Directorate General of Civil Association (DGCA) or the lenders, banking industry sources said.
In case there is no concrete revival plan, then the lenders will decide on their future course of action on the KFA account on the same day itself, they added.
So far, the public sector lenders, who have an exposure of Rs 7,000 crore, have not initiated any action to recover their dues.
15/12/12 KR Srivats/Business Line