KFA crisis: Mallya is not even sure of the Diageo deal!

Liquor baron Vijay Mallya does not know whether a deal for UK drinks giant Diageo Plc to take a stake in his United Spirits Ltd will be struck or not, he said on Saturday.

 KFA crisis: Mallya is not even sure of the Diageo deal!

AFP

Mallya has been scrambling to raise funds for his ailing Kingfisher Airlines Ltd , and has been in talks with the maker of Johnnie Walker whisky and Smirnoff vodka to sell a stake in United Spirits.

"Whenever we need to say something we will, we keep discussing but we don't know whether a deal will happen or not," Mallya told Reuters on the sidelines of the Indian Grand Prix, which he flew in from London to attend.

On Friday, Kingfisher Airlines CEO Sanjay Agarwal told aviation regulator DGCA that the airline would be supported financially by the parent UB Group. The assurance came when Mishra asked how the cash-strapped airline management planned to run sustainable operations when Agarwal came to meet him a day after Kingfisher staff decided to end strike.

Agencies

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Updated Date: Dec 20, 2014 13:09:51 IST