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Kingfisher Airlines shares up after report of Etihad stake deal

Kingfisher Airlines shares were trading in the positive terrain following report that Abu Dhabi's carrier Etihad Airways would buy a 48 per cent stake in the cash-strapped airline.

BT Online Bureau   Mumbai     Last Updated: December 11, 2012  | 14:15 IST

Kingfisher Airlines shares were trading in the positive terrain on Tuesday following report that Gulf's carrier Etihad Airways would buy a 48 per cent stake in the cash-strapped airline.

According to a media report, the Etihad Airways is set to buy stake in Kingfisher Airlines for over Rs 3,000 crore. An official announcement in this regard is expected around December 18.

Kingfisher shares were up 4.96 per cent at 15.67 rupees in morning trading on the Bombay Stock Exchange.

Kingfisher has been grounded since October 1 following a strike by its pilots and engineers over non-payment of salary dues and its flying license has been suspended.

With agency inputs

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