ICICI Bank asks Kingfisher to top up loan security
Indian lender ICICI Bank has asked embattled Kingfisher Airlines to top up its loan security or adjust the loan amount after the ailing carrier's stock took a severe beating in recent weeks, the airline said.
Kingfisher Airlines is working with a consortium of banks to further reduce interest costs, while the carrier is looking at sale and lease back of some of its aircraft to reduce loans, its chairman said at the company's annual shareholders meeting.