New Delhi: Kingfisher Airlines' promoter Vijay Mallya is likely to meet Finance Minister P Chidambaram on Tuesday to discuss ways to deal with the financial challenges faced by the airline. With more than Rs 15,000 crore in the form of debt, accumulated losses and various dues, the airline has remained grounded since October 2012.
Mallya had met Law Minister Ashwani Kumar in February to discuss ways to deal with the problems facing his airline. The scheduled meeting with Chidambaram comes against the backdrop of Kingfisher's lenders deciding to start the process to recover dues.
The beleaguered airline has dues towards payment of service tax, income tax, as also Provident Fund of employees and dues of the oil companies. Besides, it has to pay huge amounts to the lessors of its aircraft and service providers like the Airports Authority of India.
Its parent company, United Breweries Holdings Ltd, is also in the eye of a storm with its auditors raising concerns over its significant financial exposure of Rs 13,500 crore to Kingfisher.
(With Additional Inputs From PTI)
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