King Fisher Airlines stock rallies on hopes of capital infusion

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King Fisher Airlines stock rallies
Kingfisher Airlines: Quotes, News
BSE 1.3600000143051147BSE Quote0 (0.00%)
NSE 1.2999999523162842NSE Quote0 (0.00%)
King Fisher Airlines stocks rallied more than 2.46% to trade at Rs 25 at 12.40 PM IST on reports of capital infusion.

News reports suggested that there would be capital infusion into the company to the extent of $500-600 million.

Fresh capital infusion would enable the company solve its cash crunch, which has led to several flights being grounded. The last few months have been tough for the Vijay Mallya controlled airline, which has been cash strapped.

Banks have been reluctant on a fresh infusion of debt, which has led the company to look at capital infusion. Domestic airlines have been saddled with mounting losses and huge debts as high aviation turbine fuel and taxes have affected the industry adversely.

Read more about: kingfisher, stock, capital
Story first published: Wednesday, February 29, 2012, 12:47 [IST]
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