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Kingfisher Airlines Ltd.: Debt Restructuring
內容大綱
Kingfisher Airlines, a leading airline company in India, had incurred substantial losses and its net worth had been eroded. This news was widely covered by Indian and international press. Analysts and media were of the opinion that Kingfisher needed equity infusion to steer it through the distress. Because of its financial difficulties, the company’s stock was trading at near historic lows and its equity value was, in fact, negative. Yet company management was emphatic that Kingfisher was on the road to recovery although it was negotiating a second debt restructuring with banks. Would this restructuring prove more successful than the last? Could anything save Kingfisher from this dire financial situation?
學習目標
<ul><li>Analyze a corporate restructuring program undertaken by a large Indian company and assess the impediments to restructuring in countries like India.</li><li>Highlight the interaction between financing policy and corporate strategy.</li><li>Introduce students to issues surrounding a typical restructuring.</li><li>Introduce a four-part framework to analyze companies.</li></ul>