9-May-2011 11:32 AM

Kingfisher Airlines awaiting 'right time' to commence GDR issue

Kingfisher Airlines CEO Sanjay Aggarwal stated the carrier is waiting for the “right time” to commence the sale of global depository receipts (GDR) to raise up to USD300 million and reduce its debt (Indian Express, 06-May-2011). According to Mr Aggarwal “it is just not the economic environment” at present with high international crude oil prices. The carrier had planned to launch the GDR issue after Dec-2010.