Kingfisher Airlines likely to raise USD 400 mn

Kingfisher Airlines` intentions to raise USD 400 million are on track and private equity players have shown remarkable interest in investing in the airline, reports Business Standard.
The company said that there is no reason why private equity investors who had expressed interest when oil (crude prices) was at USD 100 a barrel, shouldn`t be more interested when oil is USD 36 a barrel.
The company is optimistic to break even in the next fiscal (2009-10). The company said that if all goes well in the next five days (till December end), the airlines should break-even (operationally) in the current month itself when it`s revenue (passenger, cargo and ancillary revenues put together) is estimated to be close to Rs 5 billion (in December alone).
26/12/08 Myiris.com

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Categories: Kingfisher Dec 2008