Mallya said that his airlines was in talks with two foreign airlines for a rescue package and the same would be announced within few days.
Mallya in an interview to the Times said that foreign airlines were ready to invest in Kingfisher airlines as soon as a change in the law was announced. He, however, did not divulge the details of the foreign airlines.
The change would also allow the foreign airlines to own 49 percent in Kingfisher airlines.
According to the report, one of airlines in talks with Kingfisher airlines is International Airlines Group, owner of British Airways and Iberia, said a unnamed financial source.
Etihad Airways, Abu Dhabi's flagship carrier is also in talks for a possible tie-up with Kingfisher.