Debt-laden carrier Kingfisher Airlines said it is in talks with Hong Kong-based distressed debt company SC Lowy Financial for a possible investment, throwing a potential lifeline for the cash-strapped airline.
"We are in discussion with SC Lowy and others. We cannot comment further at this time," a spokesman for Kingfisher said on Thursday.
He, did not specify, whether any investment would be in the form of debt or equity infusion.
Earlier on Thursday, a report said that Lowy may invest about $280 million in the Vijay Mallya-owned carrier and a deal may happen by the end of the month.
A spokesman for SC Lowy declined to comment.
SC Lowy, founded by two ex-Deutsche Bank veterans in 2009, is a trading and investment firm, focused on investing in illiquid assets.