Vijay Mallya expects Kingfisher Airlines to break even in 2008-09

Vijay Mallya expects Kingfisher Airlines to break even in 2008-09

Kingfisher Airlines Chairman Vijay Mallya has said that he has no plans to close down or sell the Kingfisher Airlines despite suffering huge losses in initial years of operations.

He said that the airline company might take an additional year to break even than initially expected.

Kingfisher seems to be suffering from the “current bloodbath” in the Indian civil aviation sector where budget airline companies are dominating with cheap fares.

Mallya said in a news program: “Because Kingfisher Airlines has successfully demonstrated and achieved much higher ticket values than the competition and we have excellent load factors.” He said that he is confident of breaking even with Kingfisher before 2009.

Mallya further said: “Kingfisher Airlines will never go belly up. We have a wonderful product, which is now rated as the best in the Indian skies.”