Kingfisher Airlines in talks with local investor: Vijay Mallya

Kingfisher Airlines is still in talks with a potential local investor to raise funds, its chairman said Friday, even as woes mounted for the cash strapped carrier with a major airport set to stop facilities on credit.
"That's going on," Vijay Mallya said on Friday in televised comments, in response to a query on whether he was talking to a local investor.
"I know that you are in a hurry to fix a timeline for it, but things do take time, particularly negotiations," he told reporters in New Delhi after a meeting with India's finance minister.
Mallya did not elaborate on the details of his meeting with Pranab Mukherjee.
The meeting with Mukherjee follows a meeting of aviation company chiefs with Prime Minister Manmohan Singh seeking his intervention to help the carriers tide over the deep financial crisis and were assured that "legitimate" grievances would be considered.
Kingfisher, India's third largest airline, has been struggling to raise funds to continue operations and repay debt, but has found the going difficult due to the uncertain economic environment.
In a media interview in November, Kingfisher's founder and flamboyant liquor baron Mallya had said he was close to sealing a $370 million deal with an Indian private investor and a consortium of banks that would save the airline. .
02/12/11 Reuters/Economic Times

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Categories: Kingfisher Dec 2011