Capital Injection: Kingfisher to get $47m loan
Kingfisher, India’s third largest airline by market share, has been struggling to raise funds.
NEW DELHI:
The Sahara group will give a loan of more than 2.5 billion rupees to cash-strapped Kingfisher Airlines, to help the carrier continue operations, the Times of India reported on Saturday, citing sources. Kingfisher, India’s third largest airline by market share, has been struggling to raise funds to continue operations and repay debt. The carrier, majority-owned by Vijay Mallya controlled UB group, has a debt of about 65 billion Indian rupees and its creditors have asked the airline to raise at least $160 million in equity.
Published in The Express Tribune, December 18th, 2011.
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