The debt-laden Kingfisher Airlines hopes to bring in an investor before its operating licence expires on December 31.
This is the message that the airline’s chairman Vijay Mallya conveyed to the Director-General of Civil Aviation, Arun Mishra, during a meeting this evening.
The name of the investor, however, was not disclosed, nor was the amount that was likely to be pumped in by the investor.
Kingfisher suspended operations on October 1 and its licence was suspended on October 20. There has been intense speculation that the Abu Dhabi-based Etihad Airways is one of the suitors for Kingfisher.
Kingfisher has debt of over Rs 9,000 crore. A meeting of the consortium of banks, scheduled for December 8, has been postponed to December 17, giving rise to speculation that an investor may have evinced interest in picking up a stake in the airline.
Sources say that Etihad officials have visited the airline’s offices in Mumbai and other stations.
ashwini.phadnis@thehindu.co.in
Keywords: debt-laden Kingfisher Airlines, hopes to bring, investor, operating licence expires, Vijay Mallya
Comments:
Consequent upon the stoppage of flights by KFA, the average flying
class has been hurt very badly by the spiralling flying costs, and
till to-day no relief from any quarters.It would be a great relief if
the flight by the KFA are restored at the earliest in the interest of
the average flying class of traveller Train journey cannot replace the
air in view of the huge travel time and hence in the overall interest
of the middle class of air travellers, it is very essential to
restore the KFA by whatever quarters the means and support come from.
kfa
In incurring losses, there is a race between King fissure and
AirIndia. Both are mismanaged in the best way. While King fissure is a
private air line.Air India is like an animal which goes weaker and
weaker by administration of periodic infusion of public finance. It is
better that government dismantles this animal to the relief of tax
payers and invite foreign airlines to meet the growing domestic and
foreign air traffic. After all, mangoman and woman go by foot or at
the most by train. The revenue generated by licensing the foreign air
lines, use of air port facilities, tax on travel etc., will cause
negative losses instead of the present positive losses. Prestigious
national air line brings strikes, corruption, misuse and ultimately
loss to the public.
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