Kingfisher Airlines brands auctioned at lower price

The 17-lender consortium led by State Bank of India has auctioned movable assets of Kingfisher Airlines worth INR13.70 lakh, the company said.

The Kingfisher brand was valued at over INR4,000 crore by consultancy Grant Thornton when the airline was at its peak.

In the second attempt at recovering a part of the dues of over INR9,000 crore from now-defunct Kingfisher Airlines, lenders re-auctioned the airlines´ trademarks, including Kingfisher logo and the tag-line ´Fly the Good Times,´ but at a lower reserve price of INR330.03 crore.

The State Bank of India has also put the Flying Models, Funliner, Fly Kingfisher and Flying Bird Device on the block. Bankers in April had made a failed attempt to sell brands and trademarks of the long grounded airlines, owned by the beleaguered airline promoter Vijay Mallya.

Kingfisher Airlines Limited was an airline group based in India. Its head office was in Andheri, Mumbai and registered office in UB City, Bengaluru. The company suspended flight operations in October 2012.