http://www.myiris.com/newsCentre/newsPopup.php?fileR=20070405081833130&dir=2007/04/05&secID=livenews
Source: IRIS NEWS DIGEST (05 April 2007)
Low cost carrier Air Deccan, carrying 5.50 million passengers last year, is targeting to expand it to 12 million passengers in its next financial year starting July 2007, reports Business Line.
``This year Air Deccan will carry 8 million passengers. We need to get more Indians opting for air travel. Currently, airlines are selling only 30 million seats a year while there are potential 250 million passengers,` sid G R Gopinath, MD, Air Deccan.
He added, `At present, we are only short of Rs 200 a seat in the terms of earnings. With more set of people opting, we expect to bridge the difference in the coming months. The company may turn profitable by the December quarter though we cannot set a timeframe.`
The company, plans to increase the ancillary revenues to 25% from the current 9%, in effect to the airline business witnessing more competition, coupled with unrelenting aviation turbine fuel (ATF) prices.
Air Deccan tied up with Frankfinn Institute of air hostess training for cabin crew. Under this exclusive cabin crew recruitment agreement, only Frankfinn`s students will be recruited by Air Deccan as cabin crew. Frankfinn will be providing 400 cabin crew placements each year during the contract period with Air Deccan as a part of the agreement.
The shares of the closed at Rs 92.40, up Rs 4.40, or 5.00%. The total volume of shares traded at the BSE was 158,412. (Wednesday)
© IRIS Business Services (India) Private Limited
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