Keen enough for emerging as an early bird for catching the FDI flight, cash strapped, Kingfisher Airlines (KFA), is already in discussions for stake sale with foreign airline. However, the details as to the name of the foreign Airlines remain undisclosed.
Meanwhile, Kingfisher Airline, on Thursday, will be making a presentation to the SBI led consortium of banks which have exposure to the Vijay Mallya-promoted carrier. Banks together have an exposure of nearly Rs 7,000 crore in the beleaguered airline, with state run SBI alone having lent sum of Rs 1,500 crore to Kingfisher Airlines.
Recently, Kingfisher Airlines Chairman, Vijay Mallya has given guarantees worth Rs 5,904 crore for the carrier's loans and other liabilities in 2011-12, but did not receive any commission for the same because of lenders' opposition.
