Facing serious financial instability, Kingfisher Airlines has sought government help for bailout as it continued its flight curtailment spree for the fifth consecutive day on Friday and its stocks crashed down by over 19 per cent to an all-time low but receovered slightly later.
The sources said that the seriousness of the crisis was understood by the urgent request from the Kingfisher owner Vijay Mallya made to the Finance Minister Pranab Mukherjee and Civil Aviation Minister Vayalar Ravi to help the Kingfisher financially in infusion of funds through banks at a lower interest rates, besides other concessions in line with the Air India was getting.
However, there was no official word immediately on whether any step was being taken on Malya's request made earlier this week.
News reported by AR for Newsvision
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