Kingfisher Airlines will be finalizing its plan to restructure its debt within a month. It also expects to collect $250 million through global depository receipt (GDRs). Under this plan, it is anticipated that the company will clear its debts by the completion of nine years.

The company owes Rs7,922 crore as it stood on31st March, this year. The plan in question is being done via SBI Capital Markets.

Around 30% of the gross amount owed is going to be transformed into capital under the debt restructuring plan which also has an interest rate reduction of approximately 11%. Moreover, the banks are expected to give extra facility worth Rs 900 crore. According to Vijay Mallya, several banks are involved as a part of the plan.

The company is more or less sure about repaying its debt in time as Ebidta has margins at 13%.The confidence is all the more boosted with the upturn in the aviation industry which can be seen in the overall passenger growth figures, of which Kingfisher Airlines has a load factor of 80%.

The company has a domestic market share of about 21%. It had reported a loss of Rs 187 crore during April-June.