Kingfisher Air in talks with an investor, says Mallya

BANGALORE Tue Sep 24, 2013 2:54pm IST

1 of 2. A Kingfisher Airlines aeroplane sits on the tarmac at Chhatrapathi Shivaji International Airport in Mumbai, March 9, 2012.

Credit: Reuters/Vivek Prakash/Files

Related Topics

Stocks

   
Priyanka Gandhi Vadra, daughter of Congress party chief Sonia Gandhi, adjusts her flower garlands as she campaigns for her mother during an election meeting at Rae Bareli in Uttar Pradesh April 22, 2014. REUTERS/Pawan Kumar

Election 2014

More than 814 million people — a number larger than the population of Europe — are eligible to vote in the world’s biggest democratic exercise.  Full Coverage 

BANGALORE (Reuters) - Kingfisher Airlines Ltd(KING.NS), which has been grounded for almost a year for want of cash, is in talks with a foreign investor for a potential stake sale, Chairman Vijay Mallya said on Tuesday, without naming any investor.

"I expect this to take some form or shape in the next 90 days. That is my own estimate," Mallya told reporters after the company's annual shareholders meeting.

Mallya has said several times in the past that the company was in talks with potential investors, but the plans have not materialised so far.

(Reporting by Harichandan Arakali; Editing by Matt Driskill)

FILED UNDER:
We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/
Comments (2)
hawahawa wrote:
A brilliant idea:))) Would be great for Air Asia to pick up stake in Mallya’s venture, take responsibility of his Rs 15000 crore liability, get even with Tata -SIA too and wait for breakeven and profits.

Sep 24, 2013 4:13pm IST  --  Report as abuse
hawahawa wrote:
Air Asia the greatest on the planet with its team of models, actors and self confessed Ps should pick up stake in Mallya’s venture, take responsibility of his Rs 15000 crore liability. By that way they can get even with Tata -SIA too!

Sep 24, 2013 4:14pm IST  --  Report as abuse
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Election 2014

Election 2014

Kashmiris wary as Modi challenges for power.  Full Article 

Facebook's Performance

Facebook's Performance

Facebook Q1 revenue grows 72 percent on rising mobile ads.  Full Article 

Earnings Season

Earnings Season

Bharti Infratel Q4 net profit jumps 64 percent.  Full Article 

Monsoon Forecast

Monsoon Forecast

South Asia monsoon seen below-average to average in 2014 - WMO.  Full Article 

Solar Dispute

Solar Dispute

Green groups urge U.S. to drop solar trade case against India.  Full Article 

Oil Imports

Oil Imports

India to make May-July oil payments to Iran - sources.  Full Article 

Rice Exports

Rice Exports

India may cede top rice exporter spot under Southeast Asian price onslaught.  Full Article 

Reuters India Mobile

Reuters India Mobile

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