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Check out: Stocks that Veritas asked you to get rid of
Wed, Aug 08, 2012 at 12:22
Kingfisher Airlines is a bankrupt organisation, said Neeraj Monga, head of research, Veritas Investment Research. "It has been trying hard to raise money via every means possible," he told CNBC-TV in an interview dated September, 29, 2011.
Monga said the airline has been burning cash at a rapid rate. "Nearly 23% of the airline is owned by banks," he said adding, "UB Holding needs to find rights issue externally."
According to Monga the cash-strapped airlines may need Rs 3000-4000 crore to get itself back on its feet.
For the full report click: HERE