India’s Kingfisher Airlines, whose licence has been suspended because of concerns over finances and safety, has confirmed that it is in talks with Etihad Airways and other investors to take a stake in the carrier.
Kingfisher was launched in 2005 but has never made a profit and has US$1.4 billion (€1.07bn) in debts and it is looking to raise funds after lenders refused to give fresh loans.
A Mumbai-based newspaper has reported that Etihad is looking to buy a 48% stake in Kingfisher for nearly Rp30 billion rupees (€423m).
