NEW DELHI/MUMBAI - Indian billionaire Vijay Mallya is in talks with two overseas carriers interested in buying a stake in unprofitable Kingfisher Airlines and he may sell part of distiller Whyte & Mackay, the London-based Times said, citing an interview.
The airline deal will be concluded after the government announces a change in investment laws, Mallya said, according to Monday’s report. He didn’t name the potential investors. The potential investors may be Abu Dhabi-based Etihad Airways and the parent of British Airways, the Times said, citing unidentified people.
Mallya’s UB Group may also sell 49 per cent of Whyte & Mackay as part of efforts to cut the group’s $4 billion debt.