Vijay Mallya seeks government nod for stake sale in Kingfisher Airlines

According to a PTI report, Vijay Mallya Chairman of Kingfisher Airlines Yesterday, said that he had received several enquiries from global carriers for a stake in his Kingfisher Airlines. The airline last night also cleared their dues of over Rs 286 crore to the Airport Authority of India (AAI). The payment was made after Mallya met K Ramalingam, Chairman, AAI to prevent AAI from encashing the airline’s bank guarantee.

“I have received several Expressions of Interest from foreign airlines as the Kingfisher network is unparalleled. However, I cannot give details,” said Mallya in a statement. But industry sources indicated that talks between Kingfisher and foreign carriers were exploratory in nature. An aviation ministry official source also said that Mallya will be allowed to proceed only if the government permits foreign airlines to pick stake by changing the existing policy. However, Mallya has requested the government to permit foreign carriers to pick at least one-fourth of the stake in Indian carriers.