| India's private Kingfisher Airlines, which placed orders for 30 Airbus A320 aircraft worth $1.9 billion at the ongoing Dubai Air Show, has said the carrier would go public to finance the deal.
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| “So far a mix of equity and debt has met all our deposit and pre-delivery payments for the aircraft orders. Going forward, we would have to take the company public,” its Chairman and Managing Director Vijay Mallya told reporters here.
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| But unlike other airlines, Kingfisher has plans to fly overseas only after consolidating its domestic network, he said.
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| “When I have the planes to do so, I will ask the Indian government to reconsider its current restrictions (on overseas flights by private operators)," said Mallya.
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| At present, Kingfisher flies a fleet of seven new Airbus A320 aircraft with one more A320 and three A319s scheduled to join its fleet by January. With this new order the total firm order for new aircraft with Airbus goes up to 40 A320s.
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| In June, Kingfisher signed contracts for 15 airbus aircraft, including five superjumbo A380s, in a $3 billion deal designed to capitalise on India's fast-growing air traffic market.
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| “We have had a wonderful start to our Airbus A320 services within India -- our guests love the aircraft and are delighted with what we offer, which is an attractive and unique travel experience at an affordable price,” said Mallya, whose airline he claims offers full service to passengers at true value fares.
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| “And when you like a product, you go out and buy more, which is what we are doing today with our additional airbus A320 order.”
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| Kingfisher is a rapidly growing force in India, having taken a six per cent share of the domestic market in just six months.
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| “Kingfisher may be young and dynamic, but it is also backed by the resources of a large and successful company, and it has the vision and determination to satisfy the large untapped demand that still exists for air travel in India,” says Airbus President and CEO Gustav Humbert.
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| “When you are successful, you grow rapidly, and it is great news that Kingfisher has again chosen Airbus aircraft for its fleet expansion.” |
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