If billionaire Marans won't put in cash, why should banks?

December 17, 2014 14:02

There is no political, economic or even humanitarian logic in the government seeking to bail out SpiceJet, the airline next headed for death row.

Among other things, the Civil Aviation Minister, Ashok Gajapati Raju, has asked public sector banks to give the company working capital loans (of around Rs 600 crore) on the basis of assurances from the promoter, and the public sector oil companies are being asked to give the airline 15 days of credit for fuel, reports Business Standard.

Why, can't the billionaire Marans, who own the Sun TV Netowork, fork out Rs 600 crore till they find a buyer? Read

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