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. strikes have slowed Iraq militants but not weakened them - Pentagon
- EXCLUSIVE - Apple iPhone 6 screen snag leaves supply chain scrambling
- UPDATE 7-U.S. says Russia must pull convoy from Ukraine or face more sanctions
- U.S. urges Moscow to immediately withdraw convoy from Ukraine
- UPDATE 3-Dynegy cuts exposure to wholesale power with deals worth $6.25 bln
More than 70 percent of Indians are satisfied with the leadership of Prime Minister Narendra Modi since he took office nearly three months ago, an opinion poll showed, seeing in him the best hope to put the economy back on track. Full Article
India to hike iron ore royalty, miners may struggle to pass on extra cost. Full Article