Lenders have constituted a group of five banks from within the consortium to deal with the airline’s revival plan. The members of the group are SBI, Punjab National Bank, Bank of Baroda, IDBI Bank and Bank of India, Acharya says. The first meeting of this group will take place in the next few days.
Kingfisher could lose its AOC if it fails to submit a credible financial and operational plan to the DGCA by Dec. 31.