British Airways not to pick up stake in Kingfisher Airlines

London: British Airways is not in talks to pick up a stake in Kingfisher Airlines, but remains bullish about its prospects for India -- the carrier's second biggest international market outside the United States -- and plans to continue to boost capacity into India despite cutting routes globally.
BA has been previously mentioned as one of several potential suitors eyeing a stake in Kingfisher at a time cash-strapped domestic airlines have been lobbying hard for a change in laws that will permit foreign airlines to own equity in Indian carriers. Other foreign airlines named in Kingfisher's context included Virgin and Singapore Airlines.
"We normally don't comment on speculation, but no, we're not in any talks with Kingfisher. In fact, the last time I met Vijay Mallya was certainly more than a year ago," BA's chief executive Willie Walsh told ET in an interview in London ahead of the airline's maiden direct operations on the London-Hyderabad route.
Kingfisher Chairman Mallya told ET last month that he had received several expressions of interest from foreign airlines to pick up a stake, but did not name any suitor.
The BA CEO said he was bullish about India and said he hoped to increase his airline's capacity into India from the 43 odd weekly flights it runs now by next year, even though his airline has announced it will slash 1% of its global routes in 2009. BA is going ahead with its launch of the Hyderabad –London sector on December 7.
05/12/08 Sudeshna Sen/Economic Times

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Categories: Foreign Dec 2008, Kingfisher Dec 2008, New Dec 2008