SBICAP Trustee has put the Kingfisher Airlines brand up for sale, inviting expressions of interest in the defunct carrier’s trademarks.
The trustee says it is not seeking specific bids, but formal expressions of interest so that it can get a sense of the value of the trademarks. Submissions of interest are due on 21 April 2014.
SBICAP lists nine trademarks as being up for sale. These include ‘Fly Kingfisher,” ‘Flying Models,’ “Fly the Good Times,’and ‘Kingfisher.” It also includes the company’s logo, which depicts a Kingfisher in flight.
Given the spectacular failure of the carrier, which has been grounded since October 2012, it is unclear what level of interest the trademarks will receive.
According to Indian media reports, SBICAP, which is owned by SBI Capital Markets, is trying to sell the trademarks in a bid to recover money owed by the carrier.
The trademark sale follows a stock exchange statement from Kingfisher yesterday announcing the resignation of three board members: Ravi Nedungadi, S.R. Gupte, and M.S. Kapur.
One media report pegs Kingfisher’s total debt at INR80 billion ($1.4 billion).