Mallya ready to restart Kingfisher Airlines

Dec 17, 2012, 1:21 PM EST
AFP/Getty Images/SAJJAD HUSSAIN

Vijay Mallya told his creditors that he is ready to inject Rs 425 crore ($78 million) into his grounded Kingfisher Airlines to restart limited operations as soon as civil aviation authorities give the go-ahead. Meanwhile, Mallya is in discussions with United Arab Emirates-based Etihad Airlines about buying a stake in his heavily endebted airline. Ethiad is also reported to be in talks with similarly endebted Jet Airways about taking a 24% stake. A decision on which if either Indian airline Ethiad will invest in is expected later this week.

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