We would like to invite you to continue a survey you have started. ...

Do you trust your insurer ?

Strongly agree
Strongly disagree
Insurance provides peace of mind
Insurance is purchased only when compulsory
Terms and Conditions (small print) are clear and easily accessible
Insurance jargon (language) stands in the way of fully understanding each policy
Insurance companies try their best to uphold the details of the policy without cutting corners
Reducing risk, cutting costs and profits are more important to an insurance company than the customer
Insurance companies in the region are as professional as in other more developed markets
Age group
Do you feel your insurance provider works in your interest?
Have you had a rejected claim that you feel was not justified?
Do you trust your insurance provider?
Our Network

Register for our free newsletter

Latest News

A piece of Kingfisher for Etihad

Etihad to acquire Kingfisher stake

December 11, 2012 8:56 by

Gulf carrier Etihad Airways is close to buying a 48 percent stake in debt-ridden Indian carrier Kingfisher Airlines for a little over 30 billion rupees ($550.3 million), the Mumbai Mirror reported on Tuesday.

A formal announcement of the deal could come around Dec. 18, the birthday of Kingfisher’s flamboyant chairman, Vijay Mallya, the newspaper said, without saying how it got the information.

Kingfisher, whose planes have been grounded for the past two months, declined to comment on the report. Etihad did not immediately respond to an email sent by Reuters.

Abu Dhabi-based Etihad will initially buy a 30 percent holding in December and a further 18 percent by next August, the paper said, adding Etihad and Kingfisher refused to deny or confirm the stake sale.

Battling stiff competition and high operating costs, Indian carriers have been in talks to sell minority stakes to foreign investors. Etihad was reported to be eyeing buying a stake in Jet Airways, India’s largest airline by total passengers carried.

Kingfisher, which Mallya launched with much fanfare in 2005, was once India’s second-largest airline by domestic market share. For most of this year, the carrier has struggled to pay its staff and has not flown since early October due to protests and safety concerns.


Tags: , ,

Leave a Comment