Mallaya now woos Indian banks by saying large Indian investor interested in King Fisher Airlines stake, Banks do not budge
Faran Hamid
Nov. 15, 2011

Mallaya now woos Indian banks by saying large Indian investor interested in King Fisher Airlines stake, but banks do not budge.

Kingfisher Airlines (KFA) chairman Vijay Mallya said on Tuesday that he had been approached by a "large Indian investor" for a stake in the cash-strapped carrier. The 56-year-old liquor-to-aviation baron admitted Kingfisher had a cash flow problem. He disagrees that liquor business is different than Airlines business.

Mallya said, "We have not asked the government to dip into the taxpayers'' coffers to bail out Kingfisher. We have never done that, we will never do that." What the airline was seeking was an enhancement of its working capital limits because of soaring fuel and interest costs.

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Faran Hamid
The 56-year-old liquor-to-aviation baron admitted Kingfisher had a cash flow problem. He disagrees that liquor business is different than Airlines business.
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