Kingfisher Airlines hopes to raise $365 million within four months to pay off debt. The airline hopes to raise $250 million from the sale of global depositary receipts and a further $106 million in an equity offering. Parent company United Breweries Holdings will convert loans of about INR650 into preference shares. Shares are up today by 3.55% on the news but the journey ahead is clouded at best.
Kingfisher seeks $365 million to reduce debt
Kingfisher Airlines hopes to raise $365 million within four months to pay off debt. The airline hopes to raise $250 million from the sale of global depositary receipts and a further $106 million in an equity offering. Parent company United Breweries Holdings will convert loans of about INR650 into preference shares. Shares are up today by 3.55% on the news but the journey ahead is clouded at best.