Kingfisher Air Hires U.S. Firm to Advise on Operations

Mumbai: Kingfisher Airlines Ltd., India's largest airline by market share, has appointed a unit of U.S.-based investment banking and advisory firm Seabury Group LLC to advise the company on its operational and financial performance and steer the carrier toward profitability, a senior company executive said.
"Kingfisher Airlines has engaged the services of Seabury Aviation & Aerospace, a specialized advisory firm with unparalleled global expertise and knowledge at its disposal," Prakash Mirpuri, vice president of corporate communications at Kingfisher Airlines, told Dow Jones Newswires over the weekend.
"Seabury has been hired to come in and assist us in sustaining long-term profitability by further strengthening the operational and financial performance of the company," he added.
Mr. Mirpuri didn't give further details, including the duration of the Seabury hire.
A company executive, who didn't want to be named, however, said Seabury would advise the company on measures including "cost-cutting initiatives and fleet optimization measures".
"The company has been hired for a few months," the executive said.
08/02/10 Anirban Chowdhury/Wall Street Journal

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

Categories: Foreign Feb 2010, Kingfisher Feb 2010