The country’s luxury and well connected airline gets local support amidst hesitant banks. Economy seems to be propelled by internal investments.

Good news for the `King of Good Times’ on the anvil. Local investors evince interest in getting the prestigious flag ship of the Bangalore business baron Vijay Mallya. Investors from the country looks like to pump in Rs 800 Cr for a 24 percent stake in the beleaguered Kingfisher Airlines. The reviving of the financially sick airline was informed by the Chairman of KF, Mallya.

"There's a deal offer from two Indian investors to recapitalize. We have their term sheets," Mr. Mallya told media. He declined to specify whether the investors were from large Indian corporate houses. "They are large investors, and I would leave it there," he said. A third investor from Hong Kong has also evinced potential interest in the airline to invest as per official sources.

Sources have commented that there are many international airlines which are interested in investing in the company. The investments could be available, after the government spells its policy on the issue. It is likely that the union cabinet is expected to decide on allowing foreign airlines to take up to 49% in domestic carriers sometime next month. but the Chairman firmly denied about foreign investments at the moment.

KF was in to more lime light the last ten days when it had to ground most of its flights. The crunch advanced with the tax authorities attaching its accounts citing non-payment of dues. DGCA also summoned the airlines for a detailed report on grounding the flights. The airlines eventually submitted a fresh plan to operate 28 out of the 64 aircrafts in its fleet. So this only means the air traveler pampered by the airlines will get back their chosen airline back on track shortly.  (With inputs from internet: AarKay)