Crisis-hit KFA in talks with foreign investor

Bangalore: Criris-hit Kingfisher Airlines is in talks with a foreign investor for potential stake sale, its Chairman Vijay Mallya said today.
He, however, refused to divulge the investor's name.
"I expect this to take some form or shape in about 90 days. That is in my own estimate. It could be longer or it could be even earlier," Mallya told reporters after the annual shareholders meeting of the company.
Kingfisher Airlines has remained grounded for almost a year now under the burden of huge debts totalling over Rs 7,000 crore and accumulated losses of more than Rs 16,000 crore.
Asked about the investor's profile, Mallya said he is unable to reveal anything at this moment as it is something that would breach the confidentiality of agreement. "The investor is very sensitive to identity being revealed. Let us really give it a good try to get KFA started," he added.
Read News In Full 24/09/13 PTI/Business Standard