Thursday, August 24, 2006

Losses may force M&As in aviation industry

Hyderabad: Indian aviation industry is losing about Rs 6 crore daily as none of the airlines in the country is operating at break-even prices, according to vice-president of the Travel Agents Association of India (TAAI), C Venkateshwara Prasad.
In view of this, Prasad expects a consolidation in the country’s aviation industry in the future.
Addressing a press conference to announce the details of the three-day Indian Travel Congress to be held here from September 1, Prasad said most of the airlines in India were still in a nascent stage and new players were entering the field even before the existing ones became mature enough to earn profits. Added to this were rising fuel costs leading to losses.
“This is a big challenge and the airlines should get more people to fly,” he said, adding that the current size of air travel industry in the country was estimated at Rs 25,000 crore per annum.
24/08/06 Business Standard
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