FIIs raise stake in Jet Airways and Kingfisher Airlines

FIIs raise stake in Jet Airways and Kingfisher Airlines

Foreign institutional investors (FIIs) increased their stake in Jet Airways and Kingfisher Airlines during the second quarter of this financial year, compared to the previous quarter.

FIIs stake in Naresh Goyal-owned Jet Airways stood at 7.10 per cent during the three months through September, compared to 6.38 per cent during the first quarter of this financial year. Similarly, FIIs had 5.54 per cent stake in Vijay Mallya-owned Kingfisher Airlines, compared to 5.12 per cent in April-June.

However, in Gurgaon-based low-cost carrier SpiceJet, FIIs reduced their stake to 14.48 per cent from 15.46 per cent in the first quarter of this financial year.

Analysts said SpiceJet must have seen an increase in FII stake, but there was a decline in percentage terms, as the airline was converting foreign currency convertible bonds into equity. The conversion has increased its equity base, thus decreasing the percentage.

If the equity base of the airline was not increased, the FII share in the airline would have increased to 17.8 per cent.

FIIs, which have invested about $21.6 billion in Indian stocks till October, are expected to invest $35 billion by the end of 2010-11. The highest FII inflow in both dollar and rupee terms was last year, when they invested $17.64 billion.

Domestic institutional investors (DIIs) also increased their stake in full-service carriers Jet Airways Konnect and Kingfisher Airlines. DIIs increased their stake in Jet from 9.22 per cent to 9.72 per cent and in Kingfisher, from 5.11 per cent to 6.83 per cent.

SpiceJet, Jet Airways and Kingfisher Airlines are the countrys three listed airlines. According to reports, low-cost carrier IndiGo Airlines is planning to list itself.

POST COMMENT

Celebrating Christmas In Distinct Components With The Planet Flight Ticket Booking Calvin Gruneck: Airline Greed Steel Airplane Hangars Motels Near Manila Airport Pro Flight Simulator Evaluation The Blending Of The Planets And Sun And Moon In Astrology Duty Free Auckland Airport - Providing Value to International Visitors AirIndia Express Flights Services Provided by Some of the World-Class Airliners Easy Flight Bookings And Airline Reservations Paramount Airways For Plane Ticket Deals Cheap Flights To Hong Kong