News: 'Kingfisher IPO only after 2 years'

(PTI 16/07/2006) Mumbai - Vijay Mallya-promoted Kingfisher Airlines, will wait for 2 more years before tapping the capital market. "As far as the public issue of Kingfisher Airlines is concerned, I will not go public in the next 1-2 years ... It is doing well now and we need time to stabilise," Mallya said at an analysts meet here last evening.

Kingfisher, which launched operations early last year, was originally expected to hit the capital market in the second half of 2006.

"We have adequate internal accruals to fund the necessary capital expenditure requirements till that time. I will hit the capital market once the airline gets pretty good valuation," Mallya said.Ruling out possibilities of acquiring any airline in the near future, he said he was looking for opportunities that will benefit him to create a major breakthrough in the Indian aviation industry.

"Presently, I am not interested in any other Indian airline. Kingfisher is doing well with over 70% load factor. I expect a consolidation in the Indian aviation space over the next 5 years," said Mallya, who had made an unsucceeful bid to takeover full-service carrier Air Sahara.