Kingfisher gains on United Breweries loan hopes

Shares in Kingfisher Airlines gain by its daily limit of 5 percent after controlling stakeholder United Breweries Holdings Ltd raised the amount it can lend to the ailing carrier.

United Breweries said it had raised the limit of loans for Kingfisher to 7.5 billion rupees from 3 billion rupees, according to an exchange filing on Monday.

The statement came after lenders to Kingfisher said on February 12 that they would take initial steps towards recovering $1.4 billion of loans in default after the company failed to come up with a viable funding plan.

UB Group, the parent of both Kingfisher Airlines and United Breweries, has told lenders it would consider using proceeds from a stake sale in a separate group company to Diageo Plc.

EDITORIAL OF THE DAY

  • Realtors must lower the ratio of capital value to rental income to entice buyers

    Real estate prices are likely to witness a correction in the coming festival season, according to a report put out in this newspaper on Monday, with p

FC NEWSLETTER

Stay informed on our latest news!

INTERVIEWS

Sarthak Raychaudhuri

vice-president, HR, Asia South Whirlpool of India

GV Nageswara Rao

MD & CEO, IDBI Federal Life

Timothy Moe

Goldman Sachs

TODAY'S COLUMNS

BK Chaturvedi

Undermining demographic dividend

Development and economic growth of nations is built upon the ...

Kuruvilla Pandikattu

Imperfection makes you more human

For all those who live in fear of making a ...

Shona Adhikari

Artistic focus on women's empowerment

The focus on the girl child remains an important one ...

INTERVIEWS

William D. Green

Chairman & CEO, Accenture