April 4, 2012 / 12:26 PM / 5 years ago

Kingfisher Airlines shares surge on stake sale rumours

1 Min Read

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

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

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below