Diageo deal could pull Kingfisher back
- BJP defends its leadership from attack by party veterans, welcomes guidance and suggestion of 'seniors'
- Advani, Joshi, others issue statement on Bihar debacle; say party captive to handful, ask for review
- Bar bribery case: K M Mani resigns as Finance Minister of Kerala
- Govt eases FDI norms in 15 major sectors, including defence, civil aviation
- OROP: Over 2,000 war veterans return medals, Parrikar says 'behaviour unlike that of a soldier'
When we see money in their hands we can always ask them to return some to us, a senior official with a state-run bank and one of Kingfisher lenders told Reuters, declining to say whether the bank would commit more money to the carrier.
Any decision to lend more to Kingfisher would be based on a fresh infusion of equity from its founders and a credible plan to revive the airline, State Bank of India's Chairman Pratip Chaudhuri said last week.
Few doubt Mallya's capacity to pull off another surprise, bringing in an investor to rescue the airline. He told Reuters last month that two investment bankers had been hired as part of a search for potential partners.
The timing of Mallya's deal with Diego does show some intent on Mallya's part to get the airline going, said Rajan Mehra, the India head of U.S.-based private jet operator Universal Aviation, and an aviation expert.
And if some Middle East airline decides to put its muscle behind him, with all their financial strength, expertise in running successful airline models and deep interest in the Indian market, well, it's anybody's guess.
But time is not on Mallya's side: the Indian government has warned that it will not renew Kingfisher's licence if it fails to provide a turnaround plan by the end of December.
- Borrowing costs for states with varying deficits can’t be the same
- There was a silent wave in support of Nitish and Lalu
- A new Indo-US partnership model
- Patriot or nationalist? Why I will never be the latter
- India’s external sector has never been as strong as it has been since 1991-92
- An alarming rise in pollution levels underscores the urgent need for better regulation