Lenders to Kingfisher Airlines expect to recover about Rs 135 crore by selling properties in Mumbai and Goa and gave the airline 15 days to come up with 'concrete steps' to improve operations, a senior executive at State Bank of India told Reuters.
SBI is the leader of a consortium of lenders to the embattled airline, which has $1.4 billion in debt. The banker, who declined to be named, was speaking after a meeting on Thursday between the airline and its lenders.
Kingfisher officials could not immediately be reached for comment.
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