Kingfisher Airlines Ltd had sought a 10-billion rupee loan from State Bank of India and has been sanctioned half that amount, a junior finance minister said on Friday.
The bank has sanctioned the loan on specific terms and conditions, Namo Narain Meena told Parliament in a written reply,
but did not provide details.
Cash strapped Kingfisher Airlines has posted a net loss of 2.4 billion rupees in April-June and has appointed bankers to help it raise up to 5 billion rupees.
At 2:06 pm, shares in Kingfisher were down 3.23 percent at 46.50 rupees in a Mumbai market, which was down 2.2 percent.