Air Deccan expects to break even before 2008-end

With funding from UB Holdings, Air Deccan now expects to turn around much sooner than it had anticipated earlier.
"We are likely to turn profitable during the next few quarters," Air Deccan's officiating CEO, Mr Ramki Sundaram, told Business Line.
He added that the amount of Rs 550 crore which will be given by UB Holdings for 26 per cent stake in the airline's parent, Deccan Aviation, will be utilised for working capital requirements and for retiring certain debts.
Mr Sundaram said that the airline's board is convinced more than before that it took the right step in offering stake to UB Holdings.
According to him, the company is extremely bullish about the alliance.
Mr Sundaram, who is also the airline's CFO, said that the airline will take a closer look at the fare buckets, including low fares.
The airline will continue to have certain low fares but will make judicious use of it wherever possible; the emphasis will be on rationalisation of routes.
12/06/07 Business Line/Moneycontrol.com

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Categories: Air Deccan Jun 2007