Consolidation in Indian skies imminent: Spicejet

A shakeout in the Indian aviation sector is imminent as domestic airlines account for 35 per cent of the losses suffered by the industry globally, low-cost carrier Spicejet chief Sanjay Aggarwal said, while hinting at possible acquisition within a year.
"Yes... Indian aviation is two per cent of the world's capacity and they are showing 35 per cent of the world's aviation losses," Aggarwal told PTI when asked if a shakeout was imminent in the Indian aviation sector.
On whether he would be able to pick up a carrier as and when the shakeout happens, Aggarwal said: "We are keeping our eyes and ears open... There are some airlines that do not make sense for us."
Without giving specific details of acquisition, Aggarwal said he would be interested in a company that would come at a right price and an acquisition could be possible in about 10 months.
Such inorganic growth could possibly take place by the time when the carrier completes its fifth anniversary in May next year, he said.
03/06/09 PTI/Business Standard

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Categories: Indian Aviation- In General Jun 2009, SpiceJet Jun 2009