Kingfisher Airlines ‘getting’ offers for investment

Kingfisher Airlines has received unsolicited offers for investment in the company, according to a top official.
“They have come from domestic sources primarily. And we are in the process of talking to some of them, examining how relevant and serious they are,” Mr Ravi Nedungadi, Chief Financial Officer, UB Group, said on the sidelines of UB’s annual general meeting here on Wednesday. “At this point, all I can confirm is that there is more than one serious investor,” he added.
According to him, the company has not decided on how much stake it will offload in the event of an investor coming in. An aviation analyst told Business Line that the Sahara Group could be a potential investor, bringing in around Rs 250 crore.
A banker with the consortium pointed out recently that if FDI in aviation is allowed, the airline’s cash crunch could be minimised to some extent, adding that the airline was in talks with a few foreign carriers already.
Though Mr Nedungadi refused to comment on this, he said that the company did have long-pending requests with the Government, including FDI. “We are trying to manage with what we can,” he said.
21/12/11 Business Line

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~ by anand213 on December 22, 2011.

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