JOIN US Scotching all media speculation that it is eyeing a stake in Kingfisher Airlines (KFA), Dubai-based airline Emirates said last week that it plans to grow organically.
A spokesperson for the airline, in response to queries from Deccan Herald said, “Emirates has no plans to acquire a stake in another airline in India or anywhere else. We are busy focusing on the many aspects of our own growth including the launch of flights to five new destinations in as many months.”
Emirates operates 185 flights to India every week, serving 10 cities.
KFA Chairman Vijay Mallya, at the annual general meeting of KFA on September 26, and subsequently to the media, had said that his company was in “talks” with foreign investors for a stake sale, in order to recapitalize the debt-stricken airline.
A day later, Mallya had at a lenders meeting in Bangalore, said that he could not share details of his talks. Meanwhile, the share price of KFA took a roller-coaster ride on the exchanges.