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Kingfisher talking to investors as labour dispute rankles

Kingfisher Airlines has confirmed that it is in discussions with foreign and local companies over its future ownership structure, following local media reports about a possible investment even as the airline's labour dispute deteriorates.

In a letter sent to the national stock exchange, the airline writes: "The company is in talks with foreign carriers as well as domestic investors to sell a stake ... which in our view can hardly be classified as price- sensitive information, given that these are self-evidently at preliminary stages.

"In any case, the fact that the company has been attempting to raise much needed capital over the last two years - pursuant to shareholders resolutions approving the same, and duly reported to the stock exchanges - has been widely reported in the media for a long time."

The Indian carrier adds that its statement is being provided "only as a response to the queries raised by various shareholders regarding equity investment in the company" - reportedly voiced during its annual general meeting on 26 September 2012.

Its letter to the stock exchange comes alongside a separate statement announcing the suspension of all flight operations until 4 October, which the airline blames on an ongoing dispute with "a small section of recalcitrant employees".

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