The 13-bank consortium that together have an exposure of about Rs 7,000 crore to Kingfisher Airlines, has advised the private carrier to bring in equity to the tune of Rs 400 crore and provide financial and operational details before its scheduled meeting with bankers on Tuesday.

Mr Pratip Chaudhuri, Chairman, State Bank of India, on Sunday said that the company should provide information pertaining to the condition of its fleet, how many of the planes were airworthy, availability of equity, the security of supply of fuel and assurance regarding landing at different airports before the scheduled meeting on Tuesday.

It is only after the company provides all the necessary details, will the bankers look at possible options, including that of restructuring, if required, Mr Chaudhuri told newspersons on the sidelines of a banking conference organised by the Associated Chambers of Commerce and Industry of India here on Sunday.

“Before taking a further call on this matter, we first want to see that money (equity of Rs 400 crore) coming in. Other creditors like oil companies and airport authorities are working out a schedule, and then we will sit with the company to understand how much more money it requires and what are the different sources. All the money need not necessarily come from banks,” Mr Chaudhuri said.

The Vijay Mallya-owned Kingfisher Airlines had earlier committed to bring in equity of Rs 800 crore, of which, it has already pumped in Rs 400 crore, Mr Chaudhuri said. “We expect them to bring in another Rs 400 crore now.”

The board of Kingfisher Airlines (KFA) will on Monday consider a proposal to cut debt by more than half by selling property, converting loans from its parent company into equity, and changing the terms under which it leases aircraft.

The management of the airline, which has cancelled 200 flights in the past week, leading to fears it is close to bankruptcy, says its plan will result in debt coming down from Rs 6,500 crore to Rs 3,000 crore.