Zeebiz BureauNew Delhi: Kingfisher Airlines’ (KFA) management will meet their lenders' consortium led by the State Bank of India (SBI) Wednesday to convince them to put additional capital in the troubled airline.
SBI, the lead consortium lender to the carrier however told a news channel that KFA would need to arrange fresh equity of Rs 1,000-2,000 crore before seeking additional funds from banks.
Citing Top civil aviation ministry sources, the Channel said that two of Kingfisher ATR aircraft were seized by the Directorate General of Civil Aviation (DGCA) and handed over to the leasing company after the lessors complained to the airline regulator.
KFA has been in financial mess and the loans given by banks have turned NPA (non-performing asset) for the past couple of months.
The company's net loss widened to Rs 444.26 crore for the quarter ended December 31, due to high fuel costs and weaker rupee, from Rs 253.69 crore in the October-December quarter of last fiscal.
The airlines suffered a loss of Rs 1,027 crore in 2010-11.
With PTI inputs
First Published: Wednesday, February 29, 2012, 10:52