Business Daily from THE HINDU group of publications
Thursday, Apr 02, 2009
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Business Daily from THE HINDU group of publications Thursday, Apr 02, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Logistics
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Airlines Corporate - Outlook SpiceJet mulls launching international services Our Bureau Hyderabad, April 1 SpiceJet Ltd, a low-cost airline company, has denied talks with GoAir for either a merger or to acquire a controlling stake, terming the reports as speculation. It, however, said that it would look at acquisition when the environment turns ripe for consolidation.“We are expecting consolidation will happen after 12 to 18 months. If and when it happens, we will be a buyer and not a seller,” Mr Sanjay Aggarwal, Chief Executive Officer of SpiceJet, said. WL Ross, the US-based investor who put in Rs 345 crore in the Delhi-based airline, is a long-term investor. SpiceJet sees no need for looking for more investors as it takes up expansion plans, including acquisitions. Expansion plansAddressing a press conference here, he said the company was evaluating two plans — one to launch international services when it becomes eligible in May 2010 and the other to tap the potential in Tier-II and Tier-III cities. “It will take three months to get enough data to take a view on that,” he said. Replying to a question on Jet Airways’ proposal that the industry should cut down on capacity, Mr Aggarwal said his airline was not for capacity reduction. The company registered a growth of 12.5 per cent in February this year, against less than eight per cent in September last. SpiceJet was the largest carrier out of Delhi. Eyes train passengers“We feel that we could tap 8-10 per cent of the 15 million passengers trains carry every day,” he said, pointing out to 1.30 lakh passengers the airlines carry a day. The airline would introduce four more flights soon in Hyderabad-Ahmedabad and Hyderabad-Bangalore sectors. More Stories on : Airlines | Outlook
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