Two Airbus helicopters of Kingfisher Airlines auctioned for Rs 850 mn

Two helicopters of defunct Kingfisher Airlines were auctioned on Wednesday for over Rs 850 million, according to an official.

The Airbus helicopters were put on the block by lenders to recover outstanding dues from fugitive liquor baron Vijay Mallya, who owned Kingfisher Airlines.

An official in the know of the development told PTI that the two helicopters were auctioned for over Rs 850 million on Wednesday.

The total reserve price for the two choppers was Rs 350 million, as per the sale proclamation document issued by the Debts Recovery Tribunal.

The e-auction was held in Bengaluru.

A representative of New Delhi-based Choudhary Aviation Facilities claimed that it has emerged as the winning bidder in the auction and would pay Rs 857 million for the two helicopters.

Debt-laden Kingfisher Airlines went belly up in October 2012.

Mallya is wanted by Indian authorities in the over Rs 90-billion Kingfisher Airlines loan default case.