Struggling carrier Kingfisher suffered a considerable decline in its stock prices on the bourses after bankers rejected the carrier's request for a loan of Rs 200 crore.

Kingfisher Airlines is deep in the red, and is once again pursuing discussions with its lenders to gain more funds to continue operations.

But, lenders turned down the carrier's request for the loan saying, Kingfisher Airlines Promoter & Chairman Vijay Mallya failed to bring a concrete revival plan on further equity infusion into his carrier, which is already burdened with a debt of around Rs 9,000 crore.

People familiar with talks between Kingfisher and its lenders, said, "Vijay Mallya has sought three weeks time to come out with a detailed structured plan to pay the money."

Following the rejection of the loan application, stock in Kingfisher Airlines slipped 4.95 per cent to close at Rs 16.12 a share on the Bombay Stock Exchange (BSE). On the National Stock Exchange (NSE), the stock slipped 4.72 per cent to end the day's trading at Rs 16.15.

Kingfisher Airlines, which has accumulated losses of roughly Rs 8,000 crore, owes more than Rs 7,000 crore to a total of seventeen banks in the long-term debt.

However, the government's recent decision to allow 49 per cent foreign direct investment (FDI) in domestic airlines has become as a ray of hope for Mallya's debt-laden carrier.