309316
9th Feb 2010, 11:49
Kingfisher hires US help to restructure operations
(http://www.livemint.com/2010/02/07224726/Kingfisher-hires-help-to-restr.html)Laden with Rs6,000 cr debt, carrier brings in Seabury to help reverse decline amid upswing in local passenger market
Earlier Kingfisher had hired consultancy firm Accenture Plc when it bought over the low-cost carrier Air Deccan in late 2007 and merged it with itself.
Sadeesh Raghavan, who retired recently as managing director, India domestic businesses, Accenture, said Kingfisher’s move was a sign of trouble.
“When you bring in an outsider, it does suggest there is a serious problem. If you can’t fix the problem you get some outsider or you sell off the business,” Raghavan said.
He also said Indian carriers needed to resolve an identity crisis: “Are they low-cost, or are they full service?” The confusion “makes them difficult to manage”
(http://www.livemint.com/2010/02/07224726/Kingfisher-hires-help-to-restr.html)Laden with Rs6,000 cr debt, carrier brings in Seabury to help reverse decline amid upswing in local passenger market
Earlier Kingfisher had hired consultancy firm Accenture Plc when it bought over the low-cost carrier Air Deccan in late 2007 and merged it with itself.
Sadeesh Raghavan, who retired recently as managing director, India domestic businesses, Accenture, said Kingfisher’s move was a sign of trouble.
“When you bring in an outsider, it does suggest there is a serious problem. If you can’t fix the problem you get some outsider or you sell off the business,” Raghavan said.
He also said Indian carriers needed to resolve an identity crisis: “Are they low-cost, or are they full service?” The confusion “makes them difficult to manage”