Mumbai: Abu Dhabi's Etihad Airways was again linked with a move into India on Tuesday, as a report claimed it was considering taking a 48-percent stake in stricken carrier Kingfisher.
The Mumbai Mirror, citing unnamed sources at the airlines, said the deal worth more than 30 billion rupees ($553 million) would be announced about December 18, the birthday of Kingfisher's flamboyant boss Vijay Mallya.
The report, the most recent in a string about potential tie-ups between domestic and foreign carriers, came a week after Etihad was reported to be looking at Jet Airways, India's biggest carrier by market share.
Kingfisher shares climbed nearly five percent on Tuesday, trading at 15.67 rupees in the early afternoon.
Etihad chief executive James Hogan told an Indian television channel last week that it was in talks in India to add to its foreign holdings, which already include stakes in Virgin Australia, Air Berlin, Air Seychelles and Aer Lingus.
12/12/12 AFP
