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Kingfisher Airlines to raise over USD100 million through sale of GDR

8-Apr-2010 10:29 AM

Kingfisher Airlines reportedly plans to raise over USD100 million in the next six to eight weeks through the sale of Global Depository Receipts (GDR) with a portion of the finance to be used for working capital requirements (thehindubusinessline.com/dnaindia.com, 07-Apr-2010). According to UB Group Chief Executive Officer, Ravi Nedungadi, the carrier is expected to turn profitable from Fiscal Year 2011-12.