India's troubled aviation firm, Kingfisher Airlines has received recapitalisation offers worth 8 billion rupees or about $163.5 million from two separate investors in the country, according to Kingfisher Chairman Vijay Mallya.

The two investors will get a combined 24 percent stake in the airline after the deal. Kingfisher Airlines has cancelled 30 additional flights in Mumbai and Bangalore and changed the schedules of two others. The troubled airline stopped making bookings to Kolkata following a warning of a strike by employees over non-payment of salaries.

Kingfisher had recently offered an emergency stipend of Rs. 5,000 to its employees posted at airports, who have not received salaries for the last two months. Kingfisher's aircraft are out of service due to maintenance issues. It has been canceling flights on routes covering the cities of Delhi, Mumbai, Bangalore, Chennai, Hyderabad, Kolkata and Kochi, besides four international flights to Bangkok in Thailand.

Mallya said, "There's a deal offer from two Indian investors to recapitalise. We have their termsheets. They are large investors and I would leave it there."

Kingfisher Airlines is valued at $245.4 million. The shares of the company fell 4.35 percent on Friday to Rs. 24.20.