'KFA needs to fly again for stake sale'

BANGALORE: Four days after losing its licence to fly, the beleaguered Kingfisher Airlines (KFA) met with its lenders, a 17-member banking consortium, in Bangalore on Friday to brief them about the company's turnaround plans.
Bankers briefed by the senior management of KFA said the airline conveyed to them that KFA was in talks with multiple international airlines, Etihad Airways included, on a possible stake sale."But the management informed us that a stake sale can only happen once the airline takes off again," said a banker, who did not want to be named for this story.
"We categorically conveyed to KFA our (the consortium's) inability to infuse more funds into the grounded airline," said the banker. The airline owes the 17-member banking consortium Rs 7,500 crore, and has accumulated losses in excess of Rs 8,000 crore.