Kingfisher owes Bank of Scotland USD 21.6 million:
Vijay Mallya-owned troubled Kingfisher Airlines owes Bank of Scotland USD 21.6 million in overdue lease payments for 10 ATR 72-500 aircraft, the UK High Court has ruled, paving the way for potential action by the bank to recover the outstanding sum.
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.