Wednesday, October 11, 2006

Airline CEOs join hands to wipe out rising losses

New Delhi: With rising costs — both fuel and employee — beating down margins and pushing India's airline industry into red, CEOs of airline companies will put their heads together on October 16 to devise efforts for wiping the blood off the tarmac.
The 11 Indian airline companies — Air India, Indian Airlines, Alliance Air, Jet Airways, Air Sahara, Kingfisher Airlines, Air Deccan, SpiceJet, GoAir, IndiGo and Paramount — have formed an association to join hands in combating rising costs. The association — which is yet to be christened — is headed by AI chairman V Thulasidas and will hold its first meeting on October 16 in Mumbai.
"Though no formal agenda has yet been fixed, the airline CEOs are expected to take up matters related to operational costs. All airlines are burdened by costs, both from rising fuel prices and high employee costs. They will try to come up with a solution to addressing this cost burden," an industry source told ToI.
11/10/06 Byas Anand/Times of India
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