Kingfisher Airlines in talks with an investor: Vijay Mallya

Kingfisher Airlines Ltd, which has been grounded for almost a year for want of cash, is in talks with a foreign investor for a potential stake sale, Chairman Vijay Mallya said on Tuesday, without naming any investor.

"I expect this to take some form or shape in the next 90 days. That is my own estimate," Mallya told reporters after the company's annual shareholders meeting.

Mallya has said several times in the past that the company was in talks with potential investors, but the plans have not materialised so far.