Kingfisher Airlines urgently needs Rs 2,000 crore to survive: Expert

Bangalore: Tycoon Vijay Mallya's cash-strapped and bleeding private carrier Kingfisher Airlines urgently requires about $400 million (Rs 2,000 crore) to survive and keep flying, an aviation expert said late Friday.
"If Kingfisher has to survive, it urgently requires capital infusion of $400 million, including $200 million immediately to maintain its daily operations," Centre for Asia-Pacific Aviation (CAPA) chief executive Kapil Kaul said.
Noting that the financial health of Kingfisher was critical, Kaul said the country's leading private airline had to operate a manageable fleet from cash flow perspective and rationalise its routes to match with demand.
"The airline has no choice but exit from loss-making routes and operate a fleet that is manageable from a cash flow point of view," Kaul said from New Delhi.
The two-decade-old CAPA provides independent aviation market intelligence, analysis and data services.
Expressing concern over the sudden turn of events for the debt-ridden airline, Kaul said Kingfisher had to find ways and means to reduce non-bank dues at least by Rs.2,000 crore to overcome the financial crisis it was facing.
11/11/11 IANS/Economic Times

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

Categories: Kingfisher Nov 2011