Friday, October 28, 2005

Kingfisher Airlines to raise Rs 900cr through IPO

Vijay Mallya-promoted Kingfisher Airlines plans to raise about Rs 900 crore (Rs 9 billion) through its IPO, which will come up in the next six months, reports The Financial Express.
Addressing an investor’s meet in Mumbai, Mallya said the company is yet to finalise an advisor for the IPO, and is currently in talks with merchant bankers for the same.
As part of it expansions plans, the UB Group plans to operate at least 43 premium flights on a daily basis by May 2006, and then extend it to 65 flights on daily basis by November 2006.
Plans are also on the anvil to introduce new routes to Kolkata to Jaipur, and Mumbai to Jaipur. Currently, Kingfisher Airlines is operating flights from Ahmedabad, Bangalore, Mumbai, Kochi, Delhi, Goa, Hyderabad, Chennai and Pune.
The airline started operating in May 2005, and has a fleet of seven Airbus.


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