Kingfisher to raise USD1.5 billion in debt, Shanghai Airlines seeks government injection

Kingfisher Airlines' shares were savaged yesterday, falling 9.6%, while SpiceJet (-2.1%) and Jet Airways (-1.5%) were also sold off on reports that Indian state governments are resisting moves that would lower fuel taxation. Kingfisher also received a green light to raise USD1.5 billion in fresh loans, although a timeframe was not disclosed. An increase in the carrier's already substantial debts may be weighing on investors' minds.