SBI chairman despondent about Air India debt

Victoria
By Victoria September 6, 2012 10:52

SBI chairman despondent about Air India debt

Pratip Chaudhuri, chairman of the State Bank of India (SBI) has stated that a quick solution to Kingfisher Airline’s debt problem was unlikely.

SBI currently has a Rs 1,500 crore exposure in the Rs 8,000 crore bank loans of the airline.

The consortium of banks have met recently to discuss unlocking the value of all the non-core assets of the airline but further action is required from Kingfisher to ensure an additional capital or face defaulting on the loans. Where that additional capital will come from is unclear as all of the banks are fully pledged.

Victoria
By Victoria September 6, 2012 10:52
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