Mallya plays down size of Kingfisher Airlines’ debt

Vijay Mallya, chairman of Kingfisher Airlines, has stated that the carrier’s debt should be seen in comparison to the company’s size. He added that the airline has nine years to repay its dues and although the size of the debt – Rs.6,000 crore – is manageable, he did express concern over the rising interest cost. He has again called for the government to allow Foreign Direct Investment (FDI) in domestic airlines, which would help alleviate his debt burden. The government has yet to respond to a note by the Department of Industrial Policy and Promotion (DIPP) on allowing FDI up