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
PLANE GOES MISSING
A Malaysia Airlines flight carrying 227 passengers and 12 crew went missing over the South China Sea on Saturday, presumed crashed, as ships and planes from countries closest to its flight path scoured a large search area for any wreckage. Full Article