Kingfisher Airlines’ promoter Vijay Mallya has sought more time with the 17-bank consortium to present a suitable proposal for the beleaguered private carrier.
Following this request, the bank consortium on Wednesday rescheduled its meeting to December 17 to consider the Kingfisher Airlines’ matter, sources in the banking industry said.
The bankers’ had earlier planned their meeting at Mumbai on December 8. No specific venue has been decided yet for the December 17 meeting, sources said. The 17-bank consortium has exposure of about Rs 7,000 crore to the ailing private carrier. The Government had recently amended the foreign investment rules to allow foreign airlines to pick up to 49 per cent stake in domestic airlines.