Shares of the company have been rising ever since there were roumours of Etihad Airways planning to buy a stake in the company. Analysts believe that a stake sale by the company could infuse cash to help the company ease its debt woes.
Kingfisher has been cash strapped for many months now and has some flights grounded. The company has also been unable to honour its financial obligations and has defaulted on debt repayments. There have also been frequent delay in staff salaries.