Kingfisher Airlines To Mop Up Rs 5 000 Crore Worth Of Fresh Funds (31-Aug-2010)
Private sector air carrier, Kingfisher Airlines, has decided to mop-up fresh funds of up to Rs 5,000 crore through issue of various instruments including preference shares, equity shares, Global Depository Receipts (GDRs) by way of rights issue / preferential issue / GDR issue, etc.
The board of the company has approved the proposal for the same during its meeting held on August 31, 2010. Besides this, the board has also accorded its consent for increase in authorised share capital of the company to Rs 4,250 crore from current Rs 1,000 crore.
Kingfisher Airlines' net loss for the quarter ended June 30, 2010 had narrowed down to Rs 187.34 crore from Rs 237.08 crore for the quarter ended June 30, 2009. Its income from operations had increased by 28.91% to Rs 1,640.57 crore for the quarter ended June 30, 2010 as compared to Rs 1,272.64 crore in the previous year’s corresponding quarter.
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