Govt may bailout Kingfisher, Pranab to speak to banks

November 11, 2011 14:04

On Firstpost.com: TV reports say that Kingfisher Airlines chairman Vijay Mallya has spoken to the aviation ministry about bailing out the cash-strapped airline. Sources also suggest that finance minister Pranab Mukherjee will talk to banks on the airline's finanancial crisis, even as the ground handling staff threaten to go on strike over unpaid dues.

The aviation ministry has, in turn, spoken to the finance ministry on the issue, reports said. Sources at the aviation ministry said while an Air India-type recast is not possible for Kingfisher Airlines, oil companies might be asked to extend credit on fuel purchases to the airline.

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