Kingfisher to double its fleet strength to 128 planes by 2016
Kingfisher to double its fleet strength to 128 planes by 2016 - Corporate News - livemint.com
Kingfisher to double its fleet strength to 128 planes by 2016.
Mumbai: Kingfisher Airlines, plans to more than double its fleet strength by adding 67 more aircraft by 2016, according to an investors presentation made by the company.
Presently, the Vijay Mallya-run air-carrier has 61 aircraft in its fleet.
The 67 aircraft, scheduled to be delivered to the airline over the next six years include 42 Airbus 320, 15 Airbus 330 and 10 Airbus 350 and 380 planes.
According to the presentation posted on the UB Group’s website, deliveries of these aircraft is expected to start from 2012.
While in 2012, Kingfisher Airlines is likely to take delivery of 10 aircraft — 6 Airbus 320 and 4 Airbus 330, another 12 aircraft (9 Airbus 320 and 3 Airbus 330) are likley to be delivered in 2013.
In 2014-2016, 45 planes are expected to be delivered to the airline with a schedule of 13, 14 and 18 aircraft, respectively.
The airline plans to use its A 330 fleet for its medium-and-long-haul international operations, the presentation said.
Kingfisher, which posted losses to the tune of Rs420 crore in Q3 FY 10, had a total debt of Rs7,514 crore as on 31 December, 2009. This includes Rs2,099 crore short-term loans and another Rs907 crore working capital loans.