No need to panic over Kingfisher Airlines: SBI

December 15, 2012 19:07

State Bank of India today said there is no need for lenders to panic as the cash-strapped Kingfisher Airlines is looking for a solution to come out of the crisis. "Kingfisher has been a good airline at some point of time. They are going through their set of problems. And there is no reason for bankers to panic as long as they say that they are looking for a solution.

"The assurance only is that they are trying," SBI Managing Director Diwakar Gupta told reporters at the Delhi Economics Conclave. SBI is the lead banker in the 17-lender consortium that extended Rs 7,000 crore loans to the now grounded Kingfisher Airlines. It has an exposure of Rs 1,500 crore to the carrier, which has not been serviced since January, 2012.

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