Shares in cash-strapped Kingfisher Airlines rose more than 7% on Monday after reports the cash-strapped Indian carrier would consider proposals, including selling property, to cut its $1.3 billion debt by more than half. Kingfisher's board, which is meeting on Monday to finalise its quarterly results, will also consider converting loans from its parent company into equity and changing the terms under which it leases aircraft. The board is likely to explore ways out of the financial crisis as the Central government remains non-committal on the issue of allowing direct investment by foreign airlines in the domestic aviation sector. If approved, the proposals will help the company to get badly needed bank loans to run its operations. Company officials were not immediately available for comment on the report. Shares in Kingfisher, controlled by flamboyant liquor baron Vijay Mallya, climbed 7.6% in a firm Mumbai market , after plunging as much as 18% on Friday to their lowest since launch. The carrier has become one of the main casualties of high fuel costs and a fierce price war between a handful of airlines which, between them, have ordered hundreds of aircraft for ...
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