The troubled private airline, Kingfisher Airlines is now planning to sell its assets including its brand name to raise loans in the range of about 64.2 billion rupees.

The company has also used luxury villa in the western Indian state of Goa, two helicopters, a building in Mumbai and shares as collateral for loans tll November, according to Junior Finance Minister Namo Narain Meena.

He said that the total value of collaterals were 52.4 billion rupees, while responsing to a question in the parliament. Vijay Mallya, the head of the UB group that owns Kingfisher Airlines had earlier said that he is holding talks with a domestic investor to infuse cash into the troubled airline.

He also said that the company will consider importing Aviation Turbine Fuel (ATF) directly in order to reduce costs. He urged the authorities to allow foreign airlines to invest in Indian aviation companies with an upper limit of 49 per cent.

Kingfisher, India's second biggest airlines, is believed to be unable to raise money from the capital or debt market and it is becoming increasing difficult for the company to pay for fuel for its flights. Company staff has been dwindling as employees had lost faith in the airlines future. The airline had delayed making salary payments for August and September upsetting many employees and making them think about leaving their jobs.

Kingfisher is also facing severe fuel shortages as it has been available to pay its fuel bills. Hindustan Petroleum had suspended fuel supply to the airline causing disruptions as the airline was not able to pay a bill of Rs 130 crore.

State Bank of India, leader of the consortium of 11 lenders has earlier agreed to a debt restructuring plan for the airline but is not interested in further restructuring for the company.