Vijay Mallya might be planning to offload some of his personal holdings in the flagship, United Breweries unit of the UB group in order to raise enough money to help save his company's Kingfisher airlines, which once appeared to be ready to emerge as the leading airline in the country.

According to a media report citing people closer to the matter, Mallya might sell 13 per cent of United Breweries, which is worth about $370 million, to Heineken. United Breweries is a profitable unit of the company has a massive
50 percent market share in the domestic beer market.

The stake could pass the ownership of United Breweries to Heineken as it already owns 37.38 per cent in the country's largest beverages group. Mallya has a 19 per cent in United Breweries and might be planning to sell some of the stake to infuse capital in the troubled Kingfisher Airlines.

The stake sale indicates his commitment to revive the ailing airline. The country's civil aviation ministry has said that it will determine its actions on whether to allow the airline to continue on the basis of a performance report released by DGCA.

According to estimates, Kingfisher has a total debt of about Rs 7,000 crore and accumulated losses of about Rs 6,000 crores.