Kingfisher Airlines in the black this month

Bangalore: Kingfisher Airlines, promoted by the UB Group, expects to get into the black in December.
According to Ravi Nedungadi, president and CFO, UB Group, the airline has been driving in volumes and efficiencies which is likely to be reflected in the revenues this month.
"We should be doing flown revenue of close to Rs 290 crore this month and on that sort of revenue airlines do make money," Nedungadi said.
This information comes days after Kingfisher Airlines announced it will merge with Deccan Aviation. Both companies reported losses of about Rs 500 crore last fiscal.
Nedungadi said the new merged entity, which will be named Kingfisher Airlines, will post profits in FY09 as it will pull all levers to extract value from its combined fleet of about 80 aircraft.
"We will certainly report a profit. We can already see big changes happening month after month. And with monthly flown revenue of close to Rs 300 crore, we should be making money in December. We are going to drive this merger very hard," Nedungadi said.
27/12/07 Raghuvir Badrinath/Business Standard

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Categories: Kingfisher Dec 2007