Kingfisher in talks with foreign airlines for fresh capital

Vijay Mallya Ailing Kingfisher Airlines is in talks with foreign carriers for infusion of fresh capital, its chairman and liquor barron Vijay Mallya said today.

"Yes, we are in talks", Mallya said, without giving any details. He was speaking to reporters on the sidelines of the annual general meeting of the UB Group.

He, however, did not provide details citing "privacy and confidentiality" reasons.

The government last week opened up the aviation sector along with retail trading, broadcasting services and power trading to foreign investors in a bid to boost investment flows.

Mallya, who was keenly looking for a policy shift was quick to grab the opportunity, but he said it was too early to comment.

He also refused to go into the merits or demerits of foreign airlines picking up stakes in domestic airlines.