Kingfisher lenders too may be hit

Banks that have shown largesse to debt-ridden Kingfisher will also face headwinds. A consortium of 13 lenders to Kingfisher Airlines has taken a 23.37 per cent stake in the airline as part of a debt restructuring deal. The consortium includes State Bank of India, ICICI Bank, IDBI Bank, Bank of Baroda and Punjab National Bank. However, banking analysts say since most banks have already made significant provisions for airline loans, the impact of licence cancellation would be minimal. According to September-end shareholding pattern, SBI, ICICI Bank, Bank of India and IDBI Bank have sizeable exposure in Kingfisher Airlines.