Etihad Airways, the Gulf carrier, is on the cusp of buying a stake in the debt-encumbered Kingfisher Airlines – the airline that has been grounded since October.
On Thursday, Kingfisher set a 3 per cent cap on foreign institutional investment. Alongside the 49 per cent limit on foreign ownership by Indian law, this creates room for a foreign investor to take the other 46 per cent. Foreign institutional investors currently hold 2.46 per cent of the company and Kingfisher said in a statement that the cap was put in place:
Kingfisher Etihad brave investment is given in the post here. Read all about it
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