Kingfisher to buy 12 Airbus planes for $750 M

Thursday, 29 July 2004, 07:00 Hrs
Printer Print Email Email
MUMBAI: India's new budget aviation player Kingfisher Airlines Wednesday said it would buy 12 Airbus A-320s for $750 million for its services to be launched in the first quarter of next year.

Kingfisher Airlines, an arm of Bangalore-based liquor major UB Group, has also tied up with GE Capital Aviation Services to lease four Airbus A-320s, said Vijay Mallya, chairman of UB Group.

The induction of the first four aircraft on lease will entail an investment of 1 billion, Mallya told a news conference here. Investments in new aircraft would commence after that.

The airline would have the lowest per seat mile cost in India due to a combination of leased and purchased aircraft, he said.

Kingfisher proposes to maintain low operating overheads by maximising outsourcing of ground handling with emphasis on quality of service and competitiveness.

"Also proposed is the extensive use of IT to lower costs and to allow for constant dynamic models on pricing, aircraft utilisation and route planning," said a company statement.

Kingfisher aircraft interiors and aircrew uniforms will be designed by leading fashion designers.




Source: IANS
SPOTLIGHT
GST rate cut to spur Bengaluru
The realty market in India's tech hub is set to grow as lower Goods and Services Tax (GST) rate..
Ola raises Rs 400 cr for electric
Leading ride-hailing cab aggregator Ola on Friday said it raised Rs 400 crore from its early in..
SpiceJet plans aggressive
Budget passenger carrier SpiceJet plans to aggressively expand its international networks to fl..
Fossil Group sells smartwatch
Global watch and accessories maker Fossil Group has announced to sell its smartphone technolog..