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Journalism of Courage
Crisis-hit Kingfisher Airlines is in talks with a foreign investor for potential stake sale,its chairman Vijay Mallya said today.
He,however,refused to divulge the investors name. I expect this to take some form or shape in about 90 days. That is in my own estimate. It could be longer or it could be even earlier, Mallya told reporters after the annual shareholders meeting of the company.
Kingfisher has remained grounded for almost a year now under the burden of huge debts totalling over Rs 7,000 crore and accumulated losses of more than Rs 16,000 crore. To a query,Mallya said the United Breweries Holdings Limited board has considered the request of KFA board for continued funding in the light of the prospective investor.
