Deccan: Uphill task ahead for Mallya

Mumbai: After the much talked about Deccan stake buyout, Vijay Mallya now has an uphill task going forward.
He has to reverse the Deccan balance sheet from red to black and to fly overseas on Deccan's five years experience, Mallya needs about Rs 1,200 crore.
Going forward Mallya is focusing on expanding the network in domestic markets while changing the face of Deccan and flying overseas.
To materialise all this he is planning to buy more aircrafts. The company has also made it clear that their overseas plans will be non-stop unlike their competitors.
"By middle of next year we will certainly be flying overseas, our strategy is different from Jet, which has taken an international hub and Brussels approach, we believe that there is a premium that the consumers will pay for non-stop travel given the fact that there is security problem and other problems at airports," AKR Nedungadi, President and CFO of UB Group said.
18/10/07 Nisha Poddar/NDTV.com

To Read the News in full at Source, Click the Headline

Categories: Air Deccan Oct 2007, Kingfisher Oct 2007