SBI to meet Kingfisher Airlines founders within days

Kingfisher Airlines is saddled with a debt of $1.4 billion

State Bank of India (SBI) officials will meet the founders of Kingfisher Airlines the next couple of days, S. Vishvanathan, the bank's deputy managing director said, after India allowed foreign airlines to take stakes in local carriers.

"(Vijay) Mallya is keen to keep control of Kingfisher... So the sense we have from him is that he is willing to do everything possible, including big sacrifices," SBI Chairman Pratip Chaudhuri said, adding that the bank had no specific details on a reported sale of a stake in United Spirits.

India's decision this month to allow foreign carriers to invest in local airlines was welcomed by Kingfisher, which is saddled with a debt of $1.4 billion.