Kingfisher Airlines is trading 5% higher at Rs 66.30 after the company signed a code share agreement with British Airways on flights across India, Sri Lanka, the UK and continental Europe from September 15, 2010. This follows Kingfisher Airlines’ acceptance of an invitation to join the one world alliance earlier this year.
 
Code share allows an airline to book air tickets for its customers on its partner carriers. The frequent flyers of one airline can earn mileage points while traveling on the other’s network.
 
Meanwhile, the company has proposed to raise $1 billion (close to Rs 5,000 crore) and has secured board’s approval to raise the amount through issuance of equity or preference shares, or through global depository receipts (GDR).
 
The stock opened at Rs 64.65 and hit high of Rs 66.65 on the BSE. Around 2.48 million shares have changed hands on the counter so far.