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If the suspension of the Kingfisher Airlines’ licence stretches for a longer period of time, the lenders may finally file winding up petition against the Vijay Mallya-owned entity.
The first step would be to seek attachment of Mallya’s assets, an analyst who tracks the airline sector for Angel Broking told Business Line .
Sharan Lalane of Angel Broking said Mallya and his officials have no other choice but to pay salary dues of employees immediately, if they want to restart operations of the airlines again.
“The more he delays it now, his chances of reviving the airline diminishes,” Lalane said.
Another analyst who did not want to be quoted said if Mallya wanted to revive the airline, he would have done so earlier.
“He may have just lost interest in the airline,” he claimed.
Hence, he is willing to let the airline wither away. The Diageo deal may take a longer time to come, he said. “We are still not sure why does the UB Group want to sell its crown jewel,” he said.
The numbers just don’t add up, he pointed out. “The group may not get enough money out of the deal and would Diageo be willing to take over part of the huge debt of United Spirits,” he asked.
> giriprakash.k@thehindu.co.in
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