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Friday, July 6, 2012

Varitas says that Kingfisher may shut down

Mr. Neeraj Monga from Veritas says in a talk that all the issues that we had raised in our Kingfisher report of September 2011 have actually come to pass in the marketplace... and it is interesting. It is a small airline carrier, with very little market capitalisation. So I do not believe that the company can survive. Lenders are already signalling their intent by deciding to sell the fixed assets of the company. What is going to be interesting to see is what will be the recoverability on these loans. Meanwhile, the company continues to shrink and I believe sooner or later, it will shut down.

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