Kingfisher Airlines Chairman Vijay Mallya, on Wednesday, said the carrier was in talks with overseas airlines for investment.
Mr. Mallya also said that his airline would be making a presentation on Thursday on its revival plan to the SBI-led consortium of banks. “We have regular meetings with KFA banking consortium. I can confirm that there is meeting tomorrow [Thursday]. We will make presentation to them as requested,” he told reporters on the sidelines of the annual general meeting of the UB Group.
Banks together have an exposure of nearly Rs.7,000 crore in the airline.
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Shares of Kingfisher Airlines, on Wednesday, settled at RS.15.70, up 8.65 per cent on the BSE after its Chairman Vijay Mallya said the carrier was in talks with foreign airlines for a possible stake sale.
Buying was also seen in other UB group stocks, where United Breweries Holdings surged by 10.82 per cent, UB Engineering by 7.31 per cent, McDowell Holdings by 3.03 per cent and United Spirits by 0.86 per cent. United Breweries and Mangalore Chemicals, however, closed 0.99 per cent and 2.14 per cent lower, respectively.