Kingfisher Airlines plans to raise Rs 500 crore. Vijay Mallya, Chairman, Kingfisher Airlines, says the airliner is mulling a rights and depository issues for fund raising. "Kingfisher's total debt today is approxim
ately Rs 6,000 crore. That is why the board decided that rather than go for more debt, we will raise equity. This does not take into account any potential change in government policy for FDI. We have decided go to the Indian equity market. We have multiple options. We will appoint a merchant banker and decide the way forward very quickly." According to him, Kingfisher has been able to compete with low-cost and full-cost carriers. He says his airline is determined to stop losses and is not just looking at upping market share. "What we need to ensure now is that we sustain this through to the peak where hopefully income and earnings will improve. But I am determined to stop these losses. I will do whatever it takes. I am not after market share only. Yes, we are proud to be India's largest airline but not at the cost of shareholders."
ately Rs 6,000 crore. That is why the board decided that rather than go for more debt, we will raise equity. This does not take into account any potential change in government policy for FDI. We have decided go to the Indian equity market. We have multiple options. We will appoint a merchant banker and decide the way forward very quickly." According to him, Kingfisher has been able to compete with low-cost and full-cost carriers. He says his airline is determined to stop losses and is not just looking at upping market share. "What we need to ensure now is that we sustain this through to the peak where hopefully income and earnings will improve. But I am determined to stop these losses. I will do whatever it takes. I am not after market share only. Yes, we are proud to be India's largest airline but not at the cost of shareholders."Source:www.moneycontrol.com/india/news/business/kingfisher-airlines-to-raise-rs-500cr-via-equity-/408522
No comments:
Post a Comment