Thursday, July 06, 2006

Sahara to review business plan with E&Y

Mumbai: With its Rs 2,300 crore acquisition deal with Jet Airways falling through, Lucknow-based airline Air Sahara has asked Ernst & Young to review the current business plan of the airline to revive the business and regain lost market share.
The airline is also exploring private equity placement routes to infuse fresh capital of $100 million, that will fuel revival plans.
Admitting that airline had lost several employees including engineers and pilots, Air Sahara President Alok Sharma said the airline has made alternate arrangement to fly aeroplanes.
Significantly, Air Sahara has re-launched one of its competitive schemes “Sixer in Air”, offering six economy flight coupons worth Rs 26,00 for travel on any domestic sector up to September 30.
06/07/06 P R Sanjai/Business Standard
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