Merger pushed AI, Kingfisher Airlines deeper into red

New Delhi: The merger of Air India with Indian Airlines and that of Kingfisher Airlines with Air Deccan has resulted in a massive increase in their losses, according to official figures.
The losses for the National Aviation Company of India Ltd (NACIL), which runs Air India, more than doubled from Rs 2,226.16 crore in 2007-08 to Rs 5,548 crore in 2008-09.
Similarly, Kingfisher's losses rose almost four times from Rs 408.91 crore to Rs 1,602 crore during the same period, the figures have shown. The 2008-09 losses for liquor baron Vijay Mallya's airline were recorded after its merger with low-cost carrier Air Deccan.
Likewise, the combined losses of Jet Airways and its fully-owned subsidiary JetLite or erstwhile Air Sahara rose from Rs 695.10 crore to Rs 1,032.7 crore.

07/03/10 PTI/mydigitalfc.com

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Categories: Kingfisher Mar 2010, NACIL Mar 2010