With corporate bigwigs criticizing the move of Kingfisher to seeking government’s help for bailout, the owner of the airlines Vijay Mallya has decided to keep the problem to himself. The management of the Kingfisher Airlines has decided to sell half of its property and take a loan from its parent company to clear off the debt.
Around 200 flights have been cancelled and the management has decided to change the terms of aircraft leasing. It has also decided to bring down the debt from Rs 6,500 crore to Rs 3,000 crore.
Tags:Kingfisher
