26-Jul-2010 11:59 AM

Kingfisher parent considers further investment in carrier

Kingfisher Airlines parent, United Breweries (UB) Group, announced it is considering plans to close an option to invest USD75 million in the airline by the end of 2QFY2010/11 or early 3Q2010/11 (Business Standard, 23-Jul-2010). UB Group is also considering conversion of USD84.7 million in unsecured loans and preference capital into equity. Kingfisher is then expected to raise USD214 million through global depository receipts on the Luxembourg Exchange. The carrier is restructuring USD16.1 billion in debt.