Financial Daily from THE HINDU group of publications
Thursday, Mar 23, 2006
Financial Daily from THE HINDU group of publications Thursday, Mar 23, 2006 |
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Logistics
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Airlines States - Kerala GoAir aims to break even next fiscal Our Bureau
Kochi , March 22 GoAir, the low-cost airline promoted by the Mumbai-based Wadia Group, hopes to make profits in the next fiscal year on revenues of Rs 600-Rs 700 crore, its Managing Director, Mr Jeh Wadia, said on Wednesday. "We should be able to achieve cash break-even by end of next fiscal," Mr Wadia said at a press conference here. GoAir, which competes with airlines such as Air Deccan, Kingfisher Airlines and Spice, is targeting a revenue of Rs 600- Rs 700 crore in its first full year of operations starting April 2006. The airline had commenced operations in November last year. A number of low-cost airlines entered Indian skies last year, creating a fare ware in the domestic aviation sector.
`CHEAPEST AIRFARES'
GoAir, which claims it has the cheapest airfares in the domestic sector, is promoted by the same group that has companies such as Bombay Dyeing and Britannia. The airline now has three Airbus aircraft, flying to destinations such as Goa, Ahmedabad, Coimbatore, Bangalore, Hyderabad, Baroda, Chennai, Pune and Kochi. It plans to add another 30 aircraft in three years. It has already placed orders for 20 Airbus 320 planes costing $1.5 billion. The airline is adding more flights to newer destinations. From next month, flights to connect Delhi and Chennai will start, he added.
Related Stories: More Stories on : Airlines | Kerala
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