Kingfisher Airlines (CMP=Rs 59 ) reports private equity fund TPG Capital is among several suitors lined up to invest over $400 million for a substantial stake in the company.
Deccan Aviation has changed its name to Kingfisher Airlines following a reverse merger of Kingfisher Airlines with Deccan Aviation.
The stock had a 52-week high of Rs 335 on 19 December 2007 and a 52-week low of Rs 52.25 on 29 September 2008.
The mid-cap air carrier has an equity capital of Rs 265.91 crore. Face value per share is Rs 10.
According to reports, TPG has been in talks with Kingfisher for a few months now, and there is no certainty that a deal would happen. Kingfisher Airlines, following its reverse merger with Deccan Aviation, is looking at a valuation of over $1 billion in a market ravaged by the global credit crisis, the reports added.
Kingfisher Airlines reported a net loss of Rs 199.65 crore in Q3 March 2008 as against a net loss of Rs 213.17 crore in Q3 March 2007. Sales rose 25.8% to Rs 557.61 in Q3 March 2008 over Q3 March 2007.
The company's board at a meeting held on 29 September 2008 decided that it will present one single financial statement to the shareholders commencing 1 April to 31 March every year in line with the uniform financial year of other companies in the UB Group. Hence, the company's accounting period for the financial year 2007-2008 will be for a period of nine months i.e. from 1 July 2007 to 31 March 2008 instead of a 12 month period i.e. 1 July 2007 to 30 June 2008 and that, the subsequent financial years shall be from 1 April to 31 March.
Kingfisher Airlines provides commercial passenger airline and a private helicopter and airplane chartering services in India.
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