Kingfisher Airlines shares surge on stake sale rumours

MUMBAI Thu Apr 5, 2012 12:08am IST

Passengers stand at a Kingfisher Airlines reservation office at the domestic airport in Kolkata February 21, 2012. REUTERS/Rupak De Chowdhuri/Files

Passengers stand at a Kingfisher Airlines reservation office at the domestic airport in Kolkata February 21, 2012.

Credit: Reuters/Rupak De Chowdhuri/Files

Related Topics

Stocks

   

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)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Earnings Season

Earnings Season

Reliance Q4 sales rise, refining margin narrows.  Read 

Innovative Solution

Innovative Solution

Turning smog into jewels - a Dutch designer's solution to Beijing's pollution.  Video 

Insider Trading

Insider Trading

Rajaratnam's brother loses bid to dismiss insider trading charges.  Full Article 

Literary Giant Dies

Literary Giant Dies

Mourning and memories in Gabriel Garcia Marquez's languid hometown.  Full Article 

S&P on India

S&P on India

S&P: India's ratings to depend on next govt econ, fiscal policies.  Full Article 

Ambitious Aim

Ambitious Aim

In green car race, Toyota adds muscle with fuel-cell launch.  Full Article 

Bond Market

Bond Market

A star abroad, RBI boss riles bond traders at home  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage