A group of Bankers led by key lender State Bank of India met today to decide the further course of action. The company has been defaulting on its loan obligation to bankers.
Kingfisher Airlines has been in deep trouble over the last one year, as the airline remains cash strapped and saddled with huge debts. Recently, one of the company's lessor took back its aircrafts following the company's inability to pay back its lease rentals.
The airline has also been looking at equity infusion from foreign partners to wade away the crisis.
Meanwhile, the stock of Kingfisher Airlines was steady at Rs 12 per share.