Bangalore: At last there is some good news for the Kingfisher Airlines of liquor baron Vijay Mallya which was running in bad times.

According to latest reports, the SREI Infrastructure Finance  is learnt to have bought Kingfisher Airlines debt worth Rs 400 crore from ICICI Bank.

Sunil Kanoria Vice Chairman of SREI is learnt to have told that the opportunity came because of securities package. It may be mentioned here that the Airlines is cash strapped with a debt of over Rs 7500 crore  and had even incurred a loss of Rs 1,151.5 crore for the quarter ending March, reports said.

The firm was refused funding by banks on the ground that the company has to bring in a minimum of Rs 2000 crore fresh capital.

In another setback, the pilots of the airline went on a strike demanding clearance of salary arrears for the past five months.