Moneycontrol
Last Updated : Jan 04, 2013 10:28 AM IST | Source: CNBC-TV18

Etihad unimpressed with KFA plan; Jet may seal deal

Etihad is not impressed by the second revival report that was submitted by Kingfisher Airlines. Etihad doesn‘t have clarity about the exact capital that UB Group will put into Kingfisher Airlines, operational restarting plans and clarity on the exact liabilities, reports Kritika Saxena of CNBC-TV18.


Etihad is not impressed by the second revival report that was submitted by Kingfisher Airlines. Etihad doesn't have clarity about the exact capital that UB Group will put into Kingfisher Airlines, operational restarting plans and exact liabilities, reports Kritika Saxena of CNBC-TV18.


Etihad is unwilling to take the entire liability that Kingfisher Airlines currently has however it cannot be said that Kingfisher is out of the race. Currently,  Jet Airways looks a more lucrative buy compared to Kingfisher and Jet Airways could be a front runner.


Things will be clear by next week, whether Kingfisher Airlines is out of the race completely or not.


We also learn that the top brass of Kingfisher Airlines is meeting up with the its lenders tomorrow. The ailing airline's outstanding debt stands at Rs 7,500 crore and it has been a non-performing asset for banks for almost a year.

KFA's license had also expired on 31st December. While the agenda for tomorrow's meeting is unknown. The meeting is significant since it could decide the future course of action that the core group of lenders would take. We understand that the general managers of various banks including State Bank of India are expected to attend the meeting.

First Published on Jan 3, 2013 08:42 pm
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