Kingfisher's F1 move fools the market

October 14, 2011 15:21

Moving on, this report in the Financial Times, London says, after years of helplessly watching debt pile up at Kingfisher Airlines, investors in Mumbai might be forgiven for jumping to a conclusion when its billionaire owner issued $100m worth of shares in his Formula 1 team to an Indian conglomerate on Wednesday.

Given the 12 per cent surge in the airline's stock on Thursday, they seemed to think the money would go towards bailing out the loss-making airline. But they may be disappointed. Indian liquor baron Vijay Mallya has told a local business paper that the money is going to the F1 team alone. Read

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