Kingfisher may break even in 2008-09: Mallya
Kingfisher Airlines chairman Vijay Mallya has said his airline will not fold up despite incurring losses although it may take a year longer than originally plannedsto break even, considering the current bloodbath in the Indian civil aviation sector.
By PTI |
NEW DELHI: Kingfisher Airlines chairman Vijay Mallya has said his airline will not fold up despite incurring losses although it may take a year longer than originally plannedsto break even, considering the current bloodbath in the Indian civil aviation sector.
In an interview to Karan Thapar for the Devil's Advocate programme on CNN-IBN, Mallya said though he would like to stick to the original target of financial year 2008-09 for the airline to break even, .... but with the current bloodbath, it might take may be one year longer.
He insisted that it would not be beyond 2009. "Absolutely not. Because kingfisher airlines has successfully demonstrated and achieved much higher ticket values than the competition and we have excellent load factors," Mallya said when asked if the break even would go beyond 2009.
Admitting that Kingfisher was incurring losses, Mallya however, said the airline would never go belly up despite the bloodbath in the civil aviation sector, which he predicted would result in a shakeout.
Kingfisher airlines will never go belly up. We have a wonderful product, which is now rated as the best in the Indian skies, he said.
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Mallya insisted floating the airlines was not a mistake, despite increasing losses, saying we have the staying power and the sustenance that it takes.The UB group chairman said there have been expressions of interest from several investors, but he had been holding them at bay.Start a SIP with as low as ₹500 with ET Money App!
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