Vijay Mallya-owned United Breweries (Holdings) Ltd on Thursday said its exposure to Kingfisher Airlines totalled Rs 12,215.18 crore as on March 31,2012,indicating its significant level of guarantees,equity and advances to the beleaguered airline.
The company also announced that Kingfisher Airlines has ceased to be its subsidiary. Its stake in Kingfisher has come down from 40.1 per cent to 29.39 per cent in the last four months.
The companys exposure relating to Kingfisher is under various accounts including corporate guarantees to banks. The company has significant exposure on various counts to Kingfisher Airlines as on March 31,2012.
These include investment in equity/preference capital at Rs 2,118.48 crore,corporate guarantees to banks/aircraft lessors at Rs 8,925.86 crore, the filing said. Total exposure includes advances at Rs 1,029.75 crore and other receivables Rs 141.09 crore,it said in a BSE filing.