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Article: India : Kingfisher seeking [pounds sterling]400 million private equity infusion.
- Article from:
- TendersInfo
- Article date:
- November 11, 2009
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Byline: pinto03
India's Kingfisher Airlines is looking to raise [pounds sterling]400 million ($670 million) from private equity investors, as it struggles with fuel bills and India's competitive aviation market.
Kingfisher Chairman Vijay Mallya says that the carrier is in discussions for the private equity infusion, according to Indian media reports. The funds would be used to pay down debt and reduce its interest burden, Mallya is reported as saying.
On 5 November, Kingfisher reportedly made an out of court settlement with Bharat Petroleum Corp (BPCL) for outstanding jet fuel bills of 3.14 billion Indian rupees ($66 million).
The ...