Kingfisher Airlines shares surge on stake sale rumours
MUMBAI (Reuters) - Shares in ailing Kingfisher Airlines(KING.NS) surged 10.4 percent on Wednesday on market rumours that Singapore Airlines(SIAL.SI) would buy a stake, but the world's second largest airline told Reuters it had no such plans.
"We are not in discussion to purchase a stake in Kingfisher Airlines," said a Singapore Airlines spokesman.
Shares in Kingfisher sank to a record low of 14.90 rupees on April 2, as the carrier reels under a mountain of debt, but have surged 11.6 percent on Tuesday and further 10.4 percent on Wednesday on various stake sale rumours.
(Reporting By Abhishek Vishnoi and Manoj Dharra; Additional reporting by Harry Suhartono)
- Tweet this
- Share this
- Digg this
- U.S. SEC to pay $30 million-plus in largest whistleblower award
- Apple sells more than 10 million new iPhones in first 3 days
- UPDATE 3-Apple sells more than 10 mln new iPhones in first 3 days
- Housing data hits Wall Street; S&P has worst day since August 5
- Israel's Mossad takes hunt for foreign spies and informants online
The finance ministry is increasingly optimistic that it can meet a tough fiscal deficit target, helped by a 12 percent decline in global crude oil prices since Prime Minister Narendra Modi took charge in May. Full Article