Banks, aircraft industry need Kingfisher Airlines

New Delhi: Several players have a stake in ensuring that the embattled Kingfisher Airlines, owned by liquor baron Vijay Mallya, does not go under.
Banks that have lent the airline money are looking at ways to save the airline as the large sums of money they have loaned to it are now at stake. Aircraft manufacturers such as Airbus and Boeing, too, are likely to take a huge hit if Kingfisher and State-owned carrier Air India cancel their orders to these companies.
Airbus and Boeing currently have multi-billion dollars worth of orders from Kingfisher and Air India. The latter’s order of 27 Boeing 787 Dreamliners is pegged at an estimated Rs 20,000 crore, while King-fisher ordered 127 aircraft from Airbus of which only half have been delivered till now.
Director (aviation) of the global consultancy major, KPMG, Amber Dubey, said that any deferment or cancellation of orders by Indian carriers will definitely hurt global aircraft suppliers.
23/11/11 Pawan Bali/Deccan Chronicle

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Categories: Kingfisher Nov 2011