Thursday, August 31, 2006

Boeing sounds warning bells for aviation sector

New Delhi: Expressing concern over the losses incurred by the Indian aviation industry, US aircraft major Boeing has cautioned that this could lead to a ‘potential disaster’ if it went unchecked.
"The losses in the Indian aviation industry is a cause for concern. It needs to be checked otherwise that will be a potential disaster for the industry," Boeing's' senior vice president (sales commercial planes) Dinesh A Keskar said in New Delhi.
He said India's low cost carriers faced pressures on yields per passenger due to low fares and high fuel prices.
Despite a sudden growth in passenger traffic and a projected growth of about 20 per cent in the next four-five years, the Indian civil aviation sector has seen many of the major players in red.
Pointing out that the sustainability of the sector withstanding loss was under question, Keskar said mergers and takeovers were on the cards.
31/08/06 Financial Express
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