Kingfisher Airlines to raise Rs 500 cr

Kingfisher Airlines on Tuesday said it will consider raising further share capital of up to Rs 500 crore. In a filing to the Bombay Stock Exchange, the Vijay Mallya-led firm said its board would meet on July 28 to ?consider issue of further share capital up to Rs 500 crore and matters consequential thereto?.

Written by fe Bureaus

July 22, 2009 01:05 IST

The company did not disclose more details. Kingfisher Airlines owes over Rs 950 crore to state-run oil companies in unpaid jet fuel bills, petroelum minister Murli Deora had said in a written reply to a question in the Rajya Sabha on Monday. Kingfisher owed

?Rs 37.36 crore to Indian Oil Corp, Rs 598.78 crore to Hindustan Petroleum Corp Ltd and Rs 314.32 crore to Bharat Petroleum Corp Ltd,? he said in a written reply to a question in Rajya Sabha here.

?The outstanding dues of Kingfisher Airlines as well as other airlines had started accumulating during the year 2008-09 because of the sharp rise in prices of Aviation Turbine Fuel in line with the crude oil prices to record highs during April to September,? he said.

This article was first uploaded on July twenty-two, twenty nine, at five minutes past one in the night.