OTHERS
| Kingfisher says eased FDI rules to help attract funds Fri, 14 Sep 2012 19:32:00 +0530 |
| Business Standard Economy Policy News India's ailing Kingfisher Airlines, hungry for funds, said on Friday it will now be able to re-engage with prospective investors in a "more meaningful manner," after the government allowed foreign carriers to invest in local airlines. The fortunes of Kingfisher, saddled with $1.4 billion in debt, hang on its ability to raise funds soon. It needs at least $500 million immediately to keep operating, according to the Centre for Asia Pacific Aviation consultancy. India opened up its supermarket sector to foreign direct investment and allowed foreign airlines to invest in local carriers in a spate of policy actions on Friday, a day after New Delhi raised the price of heavily subsidized diesel in a bold political move |
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