Slapped with additional liabilities, the Jalan-Kalrock consortium suggests lenders take a further cut in their share of the agreed payment. But with the banks playing hardball, is there hope for the airline’s revival?
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A premium offering from India’s largest airline has not evoked the expected response from flyers and just goes to show that breaking away from its low-cost DNA isn’t easy.
SBI is in discussions with its French partner on the contours of a near Rs 20,000-crore listing of the mutual fund house. But challenges in the form of a unique shareholder agreement and the recent poor performance of the AMC could derail plans.
The Ajay Singh-led airline may have claimed it has turned profitable, or has a positive net worth for the first time in a decade, but a closer look suggests otherwise.