Bangalore: Vijay Mallya, chairman of the beleaguered Kingfisher Airlines (KFA), on Wednesday said he was in talks with foreign carriers for a possible stake sale, amid protests by some shareholders and edginess among bankers over steps to recover their dues.
Lenders are keeping close tabs on progress of FDI talks after the government allowed foreign airlines to buy up to 49% in Indian carriers. A section of lenders is pushing for a quicker decision on the issue, especially because they are losing money every quarter by setting aside funds for potential losses. The bank chief said that the airline had told them several months ago that it was in talks with a foreign carrier but there is little to show by way of movement on the issue.
"Suffice it to say that we are having conversations (with foreign carriers). As for how close we are (to concluding a deal), the policy on FDI in aviation was announced only ten days ago. You can go so fast and not faster," Mallya told reporters a day before a meeting with bankers.
27/09/12 Times of India
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Lenders are keeping close tabs on progress of FDI talks after the government allowed foreign airlines to buy up to 49% in Indian carriers. A section of lenders is pushing for a quicker decision on the issue, especially because they are losing money every quarter by setting aside funds for potential losses. The bank chief said that the airline had told them several months ago that it was in talks with a foreign carrier but there is little to show by way of movement on the issue.
"Suffice it to say that we are having conversations (with foreign carriers). As for how close we are (to concluding a deal), the policy on FDI in aviation was announced only ten days ago. You can go so fast and not faster," Mallya told reporters a day before a meeting with bankers.
27/09/12 Times of India
