The debt recast by Kingfisher Airlines Ltd. is expected to help attract investors to the airline’s intended $250 million global depository receipt issue, though the company will have to wait for better market conditions for the GDR issue, say analysts. A consortium of 13 lenders to Kingfisher has taken a 23.37% stake in India’s second-biggest airline by market share after the airline restructured part of its 76.51 billion rupees ($1.7 billion) debt, the company said in a filing to the country’s stock exchange on Wednesday.

NEW DELHI — Air Works India has landed the contract to maintain the Indian air force’s VVIP squadron of three Boeing Business Jets. Operated by the Indian air force’s communications squadron, the aircraft carry the president, vice president, prime minister and other top-level officials. The maintenance contract for the Indian version of Air Force One will be a big boost for the company, which launched independent MRO services in the civil aviation sector in 2008.

India’s billionaires are more likely to spend on private jets in the next five years, says a survey. A poll of 160 advisers at a private bank within global financial firm Citigroup Inc., which represents 5,000 clients whose wealth averages more than $100 million each, found super rich Indians are most interested in buying jets and yachts. Ninety-three percent of the respondents saw an increase in spending among the super rich on private jets, according to the 2011 “Wealth Report” compiled by Citi and luxury property firm Knight Frank.