PE firm Bravia Capital may invest in Kingfisher Airlines

New Delhi: After pushing the Government to allow foreign airlines to invest in domestic airlines and seeking a debt recast from banks, debt-ridden Kingfisher Airlines may be looking for investment from China.
Hong Kong-based private equity firm, Bravia Capital is said to be eyeing an investment in Kingfisher Airlines.
When contacted, a spokesperson for the airline merely said, ‘no comments'. And e-mails sent to Bravia Capital remained unanswered. Government sources said that there were no restrictions on investments from China, including Hong Kong, in any airline in India.
If the deal does go through, it will not be a first for Bravia Capital in the aviation sector. In October this year, Bravia Capital and HNA Group acquired Istanbul-based ACT Airlines. The size of the deal has not been made public.The HNA Group is into various businesses, including airlines, airports, finance, property and tourism. The group's Web site says that Hainan Airlines is a leading company in the air transport business of the HNA Group.
The airline covers 100 destinations around the world with over 500 flights a week. As on end-October, the airline had 109 aircraft, including 94 Boeing 737s , three Boeing 767s, nine A-330s and three A-340s. According to its 2010 annual report, it has 7,959 employees.
07/12/11 Ashwini Phadnis/Business Line

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Categories: Foreign Dec 2011, Kingfisher Dec 2011