Bankers to sell KFA assets after Mallya's presentation

High on the agenda of the group of bankers' meeting in Mumbai on Wednesday to chart the course of the debt-ridden Kingfisher Airlines were plans to sell the beleaguered airline's non-core assets and halt further funding, reports CNBC-TV18's Gopika Gopakumar.

However, there was not much progress made in Wednesday's meeting as compared to the last meeting which was held in July. The only conclusion reached was that Vijay Mallya would be making a presentation in the next 10 days or before the end of the month detailing the airline's strategy to gain access to capital and plans for repayment.
Meanwhile, bankers have decided to fasttrack the sale of Kingfisher's non-core assets. At the meeting in July, the group of bankers had decided to go ahead and sell Kingfisher's properties in Mumbai and Goa. The bankers also decided to speed up the process of valuation which has not been completed till date.
The final decision to the sell these assets will be taken only after Mallya makes his presentation.