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Kingfisher Airlines plans to raise 400 million dollars

         Bangalore: Chairman of Kingfisher Airlines Vijay Mallya has said that the company's plans to raise 400 million dollars are on track. Addressing a news conference here on Friday, Mallya said that private equity players have showed keen interest in investing in the airline. "We are continuing to discuss with certain private equity investors who are showing increasing amount of interest in this investment opportunity," he added. He did not talk about the time frame for the initiative and the extent of equity stake that the airline would dilute by the measure but said that there was no reason why private equity investors would not show interest. "There is no reason why private equity investors who had expressed interest when oil (crude prices) was at 100 dollars a barrel, shouldn't be more interested when oil is 36 dollars a barrel," he added. He further noted that if all went well in the coming five days (till December end), the airlines would break-even (operationally) in the current month itself when its revenue (passenger, cargo and ancillary revenues put together) is expected to be close to 5000 million of rupees. Mallya also clarified that Kingfisher and Jet Airways were not looking at picking up stake in each other's company.
-Dec 27, 2008