Current Affairs

News
Big desi investor wants a stake in Kingfisher Airlines: Mallya

MUMBAI: Kingfisher Airlines (KFA) chairman Vijay Mallya said on Tuesday that he had been approached by a large Indian investor for a stake in the cash-strapped carrier. The 56-year-old liquor-to-aviation baron admitted Kingfisher had a cash flow problem, but said it was unfair to write its epitaph. He said KFA had appointed SBI Capital Markets to study the financial requirements of the airline and suggest options. Denying once again that he had sought a government bailout, Mallya said, We have not asked the government to dip into the taxpayers coffers to bail out Kingfisher. We have never done that, we will never do that. What the airline was seeking was an enhancement of its working capital limits because of soaring fuel and interest costs. Reacting to industrialist Rahul Bajajs opposition to the bailout of KFA, or for that matter any private sector company, Mallya said, I dont want to address my good friend Bajajs comments through the media. You all know that Bajaj was the founder of the Bombay Club. The so-called Bombay Club was floated in the early 1990s to protect Indian industry in a liberalizing economy.

                                                                                                               
Back
Created by SaasVaap Techies pvt ltd