In a major blow to the cash-strapped Kingfisher Airlines, banks on Thursday decided to launch their debt recovery process.Bankers have decided to sell-off Kingfisher’s non-core assets that include the Kingfisher House in Mumbai and Kingfisher chief Vijay Mallya‘s villa in Goa.The decision was taken after a group of banks, led by the State Bank of India met on Thursday morning to review the airline’s financial position.
An SBI official reportedly said that the lenders may be able to recover around Rs 135 crore from the property sale of Kingfisher.Reports say that the airline has been given 15 days to come up with steps to improve its operations.Meanwhile, rumours remain of loan restructuring for the ailing airlines.
Courtesy: ibnlive
