We have huge cash flow: Vijay Mallya

London: Prohibitive oil prices that have forced most of the airlines to reduce capacity or curtail number of flights, seem to have had no impact on the UB Group Chairman Vijay Mallya whose expansion programme and acquisition of latest aircraft for his commercial air operations continue. “I have a huge cash flow available,” he told HT.
Nor does the credit and oil crunch seem to have dampened the interest in purchasing civil and fighter planes, specially of Middle Eastern countries.
The number of the top-range Mercs, seven-series Audis and Lexus’ unloading men with serious faces and in designer suits flocking in various Chalets like that of the Airbus at this years Farnborough Air Show—celebrating its 60th anniversary—testified to the immense capacity and eagerness of the buyers the world over to acquire the latest planes and fighters.
Etihad ordered 20 A-320s, 25 A-350 and 10 A-380. It also ordered 45 planes—35, 787s and 10, 777s. The total order is worth $43 billion, based on list price. Saudis and Qatar too are on a buying binge. The star attraction, occupying the most central and visible space at this celebrations marked Air show was Airbus A-380 next to which was parked Airbus A330-200 with Kingfisher emblazoned in large red letters. Naturally Mallya's plane attracted equal attraction and was much talked about for the luxury it offers and the bar lounge—the only Indian carrier to have it—it has in between two compartments of First Class.
16/07/08 Vijay Dutt/Hindustan Times

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Categories: Foreign Jul 2008, Kingfisher Jul 2008