Gulf carrier Etihad Airways is close to buying a 48 percent stake in debt-ridden Indian carrier Kingfisher Airlines for a little over 30 billion rupees ($550.3 million), the Mumbai Mirror reported on Tuesday.
A formal announcement of the deal could come around Dec. 18, the birthday of Kingfisher's flamboyant chairman, Vijay Mallya, the newspaper said, without saying how it got the information.
Kingfisher, whose planes have been grounded for the past two months, declined to comment on the report. Etihad did not immediately respond to an email sent by Reuters.
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