Last week, the Indian tycoon's United Breweries (Holdings) group confirmed it is in talks with spirits giant Diageo over the sale of a stake in its United Spirits arm, which owns Whyte & Mackay whisky as well as local brands such as its Indian molasses whisky McDowell's No. 1.

Such a deal could make it easier for Mr Mallya to find funds to rescue Kingfisher, which is reported to owe millions of dollars to lenders, aircraft-leasing companies, suppliers, staff and in taxes.

Kingfisher, once India's number two carrier, is expected to meet airline regulators tomorrow to discuss safety issues as the perpetually loss-making airline continues to look for an investor.

United Breweries Holdings is the holding company for interests including United Spirits, Kingfisher Airlines and beer maker United Breweries.

Glasgow's Whyte & Mackay, which also includes single malt brands such as Dalmore and Jura, was acquired by Mr Mallya for £595 million in 2007.

Mr Mallya, who is sometimes referred to as India's Sir Richard Branson, is also behind the Force India Formula One team,

Kingfisher is reported to have cancelled all its flights as a result of the strike, having grounded most of its fleet from earlier this year. A Kingfisher spokesman said: "A section of employees of Kingfisher Airlines has not been reporting for work over the last fortnight. Over the past two days, they have been threatening and even manhandling the other employees who are reporting for work."

Last month, India allowed foreign airlines to buy stakes of up to 49% in local carriers, a long-awaited policy move seen as providing a lifeline to the country's debt-laden operators.