Bankers have asked for revaluation of the Kingfisher Airlines brand, pledged with them by the airline’s promoters in 2010. The airline brand is registered separately from the UB Group’s beer and wine brands and was pledged with a consortium of banks to raise Rs 2,000 crore in debt. The brand’s worth was included in the balance sheet, boosting the airline’s valuation.
At a meeting between lenders and Kingfisher Airlines on Thursday, bankers asked the management to repay part of the dues by selling some non-core assets. The brand revaluation is seen as a part of the move by banks for debt recovery.