ICICI Bank acquires 5.68 pc in Kingfisher Airlines

Debt-laden Kingfisher Airlines said on Thursday private lender ICICI Bank has acquired 28.26 million shares, or 5.68 percent stake, in the carrier on the conversion of compulsorily convertible preference shares. On March 31, Kingfisher Airlines had issued 116.3 million shares, or 23.4 percent equity, to a consortium of 13 banks led by State Bank of India to restructure part of its debt. Kingfisher Airlines also allotted shares to founder entities United Breweries Holdings and Kingfisher Finvest India. Kingfisher Airlines has restructured its debt by converting almost 12 billion rupees of loans into equity and its current debt stands at about 60 billion rupees, Ravi Nedungadi, chief financial officer of UB Group, which controls Kingfisher Airlines, had toldearlier this week.

Saturday, May 29, 2010

kingfisher-Airlines-Booking -Online

Kingfisher Airlines is a private airline of India. Kingfisher Airlines started its operations on May 9, 2005 with a fleet of 4 Airbus A320 aircrafts. Kingfisher Airlines currently operates with a new fleet of 8 Airbus A320 aircraft, 3 Airbus A319-100 aircraft and 4 ATR-72 aircraft. It placed orders for 5 A380s, 5 A350-800 aircrafts and 5 Airbus A330-200 aircrafts in a deal valued at over 3 billion on June 15, 2005. Delivery of the A330's is due to start in late 2007, followed by the A380's in 2010 and the A350's in 2012.

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Kingfisher airlines have their main hub in Bangalore. But Kingfisher airlines also have Delhi and Mumbai as their other few hubs in operation.

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