Kingfisher promoter Vijay Mallya on Tuesday told that he would recapitalize the airline, 'FDI or no FDI', even while the issue of allowing foreign airlines to invest in domestic ones is yet to be decided.

Highly placed government sources said Mallya has told aviation authorities that he will meet finance ministry officials to get banks to fund if FDI is not cleared within a fortnight as the pressure on him to raise funds or face the logical consequences of failing to do so is mounting.

Dismissing doubts and cynicism on the ailing airline's survival, Mallya said he is focusing on 'sustainable profitability'.

The airline is fighting to survive under a debt burden of Rs 7,500 crore, mainly from PSU banks and a combined debt-dues-losses figure of Rs 14,000 crore. Banks have asked him to infuse equity before seeking additional loans. Mallya, who had made a similar claim about the airline being close to getting funds at a press conference in Mumbai last November, did not give details of the funding plan as per a report in TOI.

Aviation authorities are focusing on Kingfisher's aircraft safety and say they do not want to 'oblige' Mallya by shutting it down so that he can escape all blames.

"I will share funding plans at an appropriate time. As of now, all I will say is Kingfisher will be back to its glory and be sustainably profitable. That is why we are keeping the employees on our rolls. It is sad that they have not been paid for some time but we are working very hard to resolve all issues," he said.

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