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Showing posts with the label Dr Vijay Mallya may use his wealth to save Kingfisher Airlines Ltd.

Dr Vijay Mallya may use his wealth to save Kingfisher Airlines Ltd.

He owns one of the world's most expensive yachts, a Formula One team and one of India's biggest premier league cricket teams. The net worth of liquor baron Vijay Mallya and his family has almost doubled to more than Rs 8,000 crore since UK drinks giant Diageo Plc picked up a controlling stake in United Spirits Ltd last November. But the man dubbed the " King of Good Times " is still having a hard time bailing out his grounded Kingfisher Airlines.  Business Today's research shows the net worth of Mallya and his family has leapt by Rs 3,500 crore in the past year to Rs 8,296 crore, while the Kingfisher Airlines stock has plunged to about Rs 11 from Rs 30 last year, wiping out almost two-thirds of investor wealth.  The stock of the UB Group's flagship company, United Spirits Ltd, has jumped to about Rs 1,800 from Rs 685 in February last year, pushing up the value of shares held by Mallya, his family and his investment arms by Rs 2,200 crore. The share