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CAPA: Kingfisher’s revival now appears to be all but ruled out

13-May-2013 11:17 AM

CAPA stated (13-May-2013) Kingfisher Airlines' revival appears unlikely. CAPA, as part of its India Aviation Outlook Report for 2013/14, said: "Despite continued efforts and statements by the promoter, Kingfisher’s revival now appears to be all but ruled out. A number of resumption plans submitted to the Ministry have been rejected as not being feasible as there was insufficient commitment to capital. The banks with outstanding loans to Kingfisher are now intent on recovery proceedings. So far they have succeeded in recovering INR10 billion (USD185 million) but a protracted legal battle can be expected for the remainder". [more - CAPA Analysis]