Indian carrier Kingfisher Airlines has secured shareholder approval to borrow up to 125 billion Indian rupees ($2.6 billion).
The carrier conducted a postal ballot of shareholders to get approval for the potential loans, the company in a filing with the Bombay Stock Exchange. Shareholders also granted approval for the company's assets to be used as security for any loans.
According to Flight's ACAS database, Kingfisher has 88 aircraft on order and 25 on option. The airline has six types of Airbus aircraft on order, including 21 A320-200s, one A319-100, 15 A330-200s, three A340-500s, five A350-800s and five A380-800s. It has also ordered 23 ATR 42-600s and 15 ATR 72-500s.
Kingfisher retained its top position among Indian airlines in June, carrying 900,000 domestic passengers for a 24.4% market share.