KFA lenders set to meet Mallya on Dec 17 for final decision

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KFA lenders set to meet Mallya on Dec 17 for final decision
Just as the new year comes closer, the party for beleaguered Kingfisher Airlines seems to be getting over.

The lenders to the airline have been looking to meet chairman Vijay Mallya on December 17 to take a final decision on the grounded firm, unable to pay Rs 7,000 crore debt.

Experts said that the meeting could be a decisive one as the matter has dragged on for years, resulting into uncertainty over the fate of the airline.

KFA, which has never ever posted profit since its inception, has already got its licence suspended on October 20 and has been running against time to eek the support of lenders.

Even though Mallya's deal with Diageo for stake in United Spirits had raised hopes of equity infusion in KFA, but Mallya himself has so far denied the plans.

Read more about: kingfisher airlines
Story first published: Friday, December 7, 2012, 11:30 [IST]
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