Kingfisher Airlines abandons plan for an Initial Public Offering

UB group-promoted Kingfisher Airlines has been considering releasing an IPO for quite sometime now. However, the airline company has now decided against this route.

Kingfisher Airlines had initially planned to raise about USD 200 million through an IPO in 2006. However, as per a report in the financial daily The Economic Times, they are having second thoughts about this plan.

The company is quoted as saying that looking at the volatility in the market; they have no short-term plan to enter the stock markets with an IPO.

Air Deccan has already seen a disappointing entry into the stock market as the share price fell down massively on the first day on the markets. Kingfisher Airlines would like to avoid that.

Jet Airways and SpiceJet are other two domestic airline companies listed on the stock market.