Vijay Mallya finds investor who is keen in Kingfisher Airlines

Vijay Mallya finds investor who is keen in Kingfisher Airlines. Reliance Industries denied Kinfisher Airlines, according to reports the energy major was in talks to buy a stake in cash-strapped Kingfisher Airlines.

Reliance might make a financial investment which could be followed up by an open offer to public shareholders. Reliance was understood to have engaged a merchant banker to carry out due carefulness of the carrier.

One of Kingfisher’s lenders had also said the carrier’s chairman, Vijay Mallya, was talking to a potential strategic investor. Kingfisher reported a September quarter loss of 4.70 billion rupees on Tuesday, cancelled many flights last week as it rapidly shut some routes, also delaying salaries.

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