Lankan airline offers stake to Jet, Kingfisher

New Delhi: SriLankan Airlines, the emerald island's national carrier in which Dubai-based Emirates has over 40% management stake, has approached leading private Indian carriers like Jet and Kingfisher for buying the Gulf carrier's shares. SriLankan had a 10-year management contract with Emirates that ends this April but due to sharp differences that erupted recently, the latter has made clear that it would not extend the same. The Gulf-based carrier is learnt to have evaluated its stake at nearly $150 million that is now up for garbs.
Kingfisher's executive V-P Hitesh Patel confirmed that the airline has approached them and some other Indian carriers.
Jet Airways, however, maintained a "no comments" stand. Indian carriers are learnt to be offered a 43.6% stake. The Sri Lankan government holds a 51% stake in the airline, while employees have the rest.
23/01/08 Times of India

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Categories: Foreign Jan 2008, Jet Airways Jan 2008, Kingfisher Jan 2008, New Jan 2008