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

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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)

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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
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