Kingfisher Air plans to raise $80 million debt

Bangalore: Kingfisher Airlines is looking to raise around $80 million in debt to fund its expansion plans. This is because plans to raise private equity are getting delayed and the much talked about public offer is also not likely to take place this year.
According to industry sources, Kingfisher is going in for this $80 million debt to part-fund its $270 million order for aircraft. Kingfisher Airlines has placed an order for 15 additional ATR 72-500 aircraft in a deal valued at $270 million. Kingfisher has also placed orders for five Airbus A380s, five A350s and five A330s. The deliveries of A330s are expected to begin in 2007 while the A380s and A350s arrive in 2010 and 2012 respectively.
05/07/06 Raghuvir Badrinath/Business Standard

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