Deccan Aviation trims losses

Bangalore: Deccan Aviation on Wednesday said operational synergy with Kingfisher Airlines has helped it to reduce its losses for quarter ending March 31, 2008 by 6.34 per cent to Rs 199.65 crore. Its total income has grown nearly 33 per cent to Rs 607.66 crore for the same period.
However, the accumulated losses for the nine-month period ending March 31, 2008 has increased 161 per cent to Rs 643 crore, according to the company’s notice to the National Stock Exchange. Kingfisher Airlines as well as Deccan Aviation are part of the UB Group.
Deccan Aviation’s Vice-chairman, Capt G. R. Gopinath, told Business Line that the reduction in losses for the third quarter was because of the good synergy between Kingfisher Airlines and Simplify Deccan.
"There has been a good synergy between both the airlines in sharing both human and material equipment resources, better route planning and better loads now compared with the competition,” he said.
Air Deccan’s share price closed at Rs 123.10 on Wednesday, nearly 3.49 per cent more than the previous closing price of Rs 118.95.
30/05/08 : Business Line/Moneycontrol.com

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Categories: Air Deccan May 2008