Kingfisher's lenders give in-principle nod to viability report

Lenders of ailing Kingfisher Airlines on Friday gave in-principle nod to a viability report detailing aspects such as funding arrangements, prepared by SBI Caps. Hired by the airline to assess its business and recapitalisation needs, SBI Caps pegged its short-term funding requirement at over Rs 600 crore. However, banks did not commit on fresh credit. After a six-hour long meeting at with lenders at SBI’s headquarters in Mumbai, Chairman Vijay Mallya said it was a long-drawn and comprehensive meeting.