Kingfisher Airlines Crisis: Bailout for Vijay Mallya?

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Vijay Malliya Kingfisher
New Delhi, Nov 11: Civil Aviation Minister Vayalar Ravi on Friday (today) requested Finance Ministry to grant bailout for the cash stripped Kingfisher Airlines.

Moreover, the Aviation Minister also urged state governments and finance ministry to cut down ATF tax.

Meanwhile, the Kingfisher Airlines officials approached the Aviation Minister asking help for which he told he will talk to the Finance Minister.

Speaking to the media on Kingfisher's financial crisis, Ravi said, " there will be no bailout to Kingfisher but it can approach the banks." He also said that he will request Pranab Mukherjee to talk with banks to avail loans to Vijay Mallya owned airlines.

Shares of Kingfisher Airlines on Friday (today) fell by over 19 percent to an all-time low in the early hours, before recovering some ground, as the cash-strapped company continued to face turbulence after it cancelled 30 more flights on Nov 10.

OneIndia News

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