After buying up a stake in a rival airline and bottling up a Scottish liquor company, the King of Good times is pursuing another takeover, reports IHT.

UB Group Chairman Vijay Mallya is in talks to acquire a stake in SpiceJet, backed by a Dubai investment fund and a group big banks including Goldman Sachs and HSBC.

Any combination would increase the size advantage that Mallya’s Kingfisher Airlines has over its nearest rival, Jet Airways, and speed up consolidation in India’s money-losing airline business.

I am interested

In an interview, Mr Mallya said that he was considering a deal, confirming speculation in the market. “Well, am I interested?” he said during the interview.

“The answer is ‘Yes,’ Am I going to get it? The answer is ‘I don't know,’ “ he said. Three deals in a row is not too many, Mr Mallya insisted. “I completed the Whyte & Mackay acquisition weeks ago,” he said, speaking of the Scottish liquor deal.

As he was “breathing a sign of relief,” management from Air Deccan said they were interested in doing a deal, he said. Air Deccan and Kingfisher agreed on a transaction in 72 hours, he added.

Kingfisher now owns 26 per cent of Air Deccan, making Mallya's company the largest stakeholder. Mr Mallya said last month that he would pay £595 million, or $1.18 billion, for the Whyte & Mackay, based in Glasgow.