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Kingfisher Airlines in discussion with various investors, including Etihad Airways

12-Dec-2012 9:11 AM

Kingfisher Airlines clarified (11-Dec-2012) it is in discussions with various investors, including Etihad Airways, for equity investments in the company. However, the carrier said "no agreement has been reached either with Etihad or any other airline and the matters are merely at a negotiation stages". It continued: "the Company has been attempting to raise much-needed capital over the last 2 years pursuant to shareholders resolutions approving the same and duly reported to the stock exchanges, has been widely reported in the media for a long time." A report by Mumbai Mirror had indicated Etihad, which was also in talks with Jet Airways, had agreed to acquire a 48% stake in Kingfisher Airlines, with an announcement likely on around 18-Dec-2012. It was reported Etihad would acquire a 30% stake in Dec-2012 and another 18% in Aug-2013. Etihad Airways has stated only: “Etihad Airways has identified equity investments in other airlines as an important evolution of its successful partnership strategy. Such investments will be made where Etihad Airways believes the commercial prospects are strong, where there are like-minded business philosophies, and where such commitment will be welcomed.” [more - original PR]