Even as it has commissioned SBI Caps to assess its business and recapitalisation needs, the troubled Kingfisher Airlines is preparing to submit a ‘fully documented' proposal to State Bank of India, the lead bank of the 13-member consortium, by the end of this week.
The airline has also given a commitment to the consortium that it would pay up at least two months' instalment/interest to the banks by December 19, an official of one of the lender-banks said. “Until the proposal is received, no bank, under the consortium, will take any additional exposure in the company — short-term or long-term,'' he added.
The company has sought an additional working capital funding of Rs.700-800 crore from the banks.
The beleaguered airline had failed to pay its interest dues to its lenders by November 30.
