Vijay Mallya, the billionaire chairman of Kingfisher Airlines Ltd., dismissed speculation the carrier may collapse as it cuts flights, seeks new loans and asks for government assistance. Shares surged.
India’s two-year bond yields are rising at a slower pace than longer-term notes in the country, Asia’s worst performing debt market, as the prospect of slower inflation increases the scope for interest-rate cuts.
Kingfisher Airlines Ltd., the Indian carrier that’s cut flights and sought government help, rose in Mumbai after the Economic Times said the carrier has a plan to cut its 65 billion rupee ($1.3 billion) of debt by more than half.
Kingfisher Airlines Ltd. , India’s second-biggest domestic carrier, said it got preliminary approval from lenders for a debt restructuring plan to cut interest costs and benefit from rising demand for air travel.