Kingfisher Airlines debt restructuring provides relief

Kingfisher Airlines stated a consortium of 13 lenders has taken a 23.37% stake in the company after the carrier restructured part of its INR76.51 billion (USD1.73 billion) debt. As part of this, Kingfisher allotted 5.68% of shares, valued at around INR1.8 billion (USD40.7 million), to the State Bank of India on a preferential basis under the debt recast plan. Other companies in the consortium include ICICI Bank, IDBI Bank, Bank of Baroda and Punjab National Bank.

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