Mumbai: Aviation companies usually refer to their big ticketing agents as business partners. Kingfisher Airlines, promoted by liquor baron Vijay Mallya, can now go one step ahead and call them financiers as well.
In a move that has caused disquiet among rivals, Kingfisher has turned to its big consolidators (so called because they buy tickets from all airlines in bulk at a discount and sell them to travellers) to raise money. With bank lending drying up and equity markets not conducive, India's second-largest airline by market share is relying on money released ahead of the payments cycle by these consolidators to meet its expenses.
11/08/11 Manisha Singhal/Economic Times
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