Mallya Hopes To Revive Kingfisher Airlines Soon

Wednesday, 25 September 2013, 09:42 Hrs
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Bangalore: Beleaguered Kingfisher Airlines chairman Vijay Mallya is betting on reviving his defunct carrier in the next three months as talks were on for an equity stake sale to a potential investor.

"We expect a revival soon as talks are on with a potential investor and the outcome would be known in about 90 days," Mallya told on the margins of the loss-making company's annual general meeting (AGM).

Mallya, however, declined to name the potential investor, as the investor was very sensitive to the identity being revealed and he would not like to breach confidentiality.

"I am not in a position to share anything at this moment as it would breach the confidentiality of agreement. My estimate is we will know the outcome (of talks) in the next three months. It could be longer or even earlier," he said.

Employees and shareholders, who attended the AGM, expressed reservation over the working of the debt-ridden airline even if it is revived with fresh capital.

"We do not have much hope of revival even with a investor coming on board as the business model and the way the airline was operated was not right," a shareholder told Mallya at the AGM.



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Source: IANS
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