investors including Etihad for investments, but no agreement had been reached.
Industry observers doubt if such a deal would go through. “I don't think any foreign airline would want to invest in Kingfisher Airlines unless promoters bring in at least Rs 4,000-5,000 crore,” said Rashesh Shah, an aviation stock analyst with Mumbai-based brokerage ICICI Securities.
Kapil Kaul, CEO-South Asia at aviation consultancy Centre for Asia Pacific Aviation said Jet Airways would be a better fit for Etihad. “Buying into Kingfisher would be like starting an airline from scratch,” he said Kaul.
On Thursday, Kingfisher's shares closed 4.98% higher at Rs 17.27.