Mallya to meet lenders with revival plan today

Mallya to meet lenders with revival plan today Zeebiz Bureau

New Delhi: Cash-strapped Kingfisher Airlines' chief Vijay Mallya will meet the lenders with a concrete revival plan for the airlines' future on Monday.

KFA is expected to make a presentation on the concrete revival plan with fund infusion plans topping the agenda, formulated as required by the Directorate General of Civil Association (DGCA) or the lenders, banking industry, reports said.

Today’s meeting of the 17-bank consortium with Mallya and the rest of the brass holds a huge significance as it comes in the backdrop of reports that Abu Dhabi carrier Etihad is planning to buy 48 percent stake of the company.

While the bankers hope the management comes with a clear plan of action for the debt-laden carrier, chances of the meeting being decisive are slim.

Reportedly, 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.

With Agency Inputs