India’s private-sector carrier Kingfisher Airlines on Friday approved raising up to 20 billion rupees ($432.7 million) through a rights issue of shares in an effort to trim its huge debt. The company, backed financially by chairman and liquor baron Vijay Mallya, has not given any time-frame or details of the proposed issue. The airline, which had reported a net loss of 2.6 billion rupees in the April-June quarter, has been trying to raise funds through a global depository receipts (GDR) ...

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