Kingfisher cuts debt; to raise funds when crude stable

Mumbai: Kingfisher Airlines has brought down its debt as part of a debt restructuring process and would prefer to wait for crude prices to stabilise before raising fresh funds for expansion, a top group official told Reuters on Tuesday.
"The fact of the matter is markets are a bit volatile. The Middle-East situation has caused an unexpected spurt in crude prices which is not structural in nature, but as long as it is there markets are a little spooked," said Ravi Nedungadi, Chief Financial Officer of UB Group , which controls Kingfisher.
05/04/11 Economic Times

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Categories: Kingfisher Apr 2011