Kingfisher shares snap 5-day losing streak on Mallya's letter 

Kingfisher Airlines shares snapped a five-day losing streak on Thursday. The stock saw buying interest after chairman Vijay Mallya wrote to employees about a limited restart of the grounded carrier.
Mr Mallya said his UB group has committed funding of approximately Rs. 650 crore for a limited re-start plan aimed for the beginning of 2013 and the company was in discussion with multiple investors to secure a deal for the debt laden carrier.
At 10.15 a.m., Kingfisher shares traded 2.6 per cent higher at Rs. 13.80 on the BSE. Other aviation stocks - Jet Airways and SpiceJet - traded with losses.
Kingfisher shares have lost over 6.5 per cent in the last week even as markets have hit a two-year high. The stock has fallen 12 per cent in the last month since December 11, 2012.
In the letter to employees, Mr Mallya detailed the steps the company has taken to re-start operations.  (Read full text of letter)
Kingfisher's licence expired on December 31, and a request to extend that will not be granted unless the suspended carrier can come up with an "acceptable" revival plan. The airline had submitted a revival plan in December, but that did not provide details of how it will fund operations.
Kingfisher has tried unsuccessfully to raise cash for more than a year, but there has been no breakthrough yet. Kingfisher, once India's second-largest airline by domestic market share, has been grounded by the aviation regulator for its failure to come up with a viable plan of financial and operational revival after a labour unrest in October led to the airline announcing a lockout.
Kingfisher Airlines has an exposure of Rs. 7,000 crore exposure to a consortium of 17 banks, led by State Bank of India, and debts of around Rs. 8,000 crore.