Kingfisher IPO in next two years: Mallya
Kingfisher Airlines, which launched operations early last year, was originally expected to hit the capital market in the second half of 2006.india Updated: Jul 17, 2006 11:44 IST
Liquor baron Vijay Mallya-promoted Kingfisher Airlines, one of the newest carriers to join the Indian skies, will wait for two more years before tapping the capital market as the company is presently preoccupied with finding its feet.
"As far as the public issue of Kingfisher Airlines is concerned, I will not go public in the next 1-2 years ... It is doing well now and we need time to stabilise," Mallya said addressing an analysts meet here on Sunday evening.
Kingfisher, which launched operations early last year, was originally expected to hit the capital market in the second half of 2006.
"We have adequate internal accruals to fund the necessary capital expenditure requirements till that time. I will hit the capital market once the airline gets pretty good valuation," Mallya said.
Ruling out possibilities of acquiring any airline in the near future, he said he was looking for opportunities that will benefit him to create a major breakthrough in the Indian aviation industry.
"Presently, I am not interested in any Indian airlines. Kingfisher is doing well with over 70 per cent load factor. I expect a consolidation in the Indian aviation space over the next five years," said Mallya, who earlier made an unsucceeful bid to takeover full-service carrier Air Sahara.