Kingfisher says eased FDI rules to help attract funds

New Delhi: India’s ailing Kingfisher Airlines, hungry for funds, said on Friday it will now be able to re-engage with prospective investors in a “more meaningful manner,” after the government allowed foreign carriers to invest in local airlines.
The fortunes of Kingfisher, saddled with $1.4 billion in debt, hang on its ability to raise funds soon. It needs at least $500 million immediately to keep operating, according to the Centre for Asia Pacific Aviation consultancy.
14/09/12 Reuters/First Post.com

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Categories: Foreign Sep 2012, Kingfisher Sep 2012