Kingfisher Airlines and Jet Airways , the nation’s two biggest private airlines, on Friday raised fares for the third time in the last 12months to partly offset losses due to rising fuel prices, a move that may drive a few potential passengers to railway minister Mamata Banerjee’s Duronto Express.

Kingfisher Airlines plans to raise Rs 500 crore. Vijay Mallya, Chairman, Kingfisher Airlines, says the airliner is mulling a rights and depository issues for fund raising.