Kingfisher, Airbus ink $1 bn deal
Kingfisher Airlines has signed a US $ one billion deal with European aircraft producer Airbus to acquire five 340?500 aircraft.india Updated: Apr 25, 2006 01:36 IST
The Vijay Mallya promoted Kingfisher Airlines has signed a US $ one billion deal with European aircraft producer Airbus to acquire five 340 – 500 aircraft. This is in addition to the aircraft already acquired by Kingfisher Airlines.
The deal was finalised in presence of Prime Minister Dr Manmohan Singh and German Chancellor Angela Merekel on Monday at the ongoing Hannover fair where India is a partner country after 21 years.
The deal was signed by Airbus President and CEO Gustav Humbert and Kingfisher Airlines Chief Vijay Mallaya on Monday. Later briefing newsmen, Mallaya said that the aircraft scheduled for supply by 2008 would be deployed on the US route to fly passangers non-stop between Indian metros, New York and San Francisco. At present Mallya doesn't have permission to fly to the US, given that he doesn't meet the five year cut off for domestic airlines.
"Until the new Bangalore airport is ready, the aircraft would fly from Mumbai," he said. The aircraft would have a seating capacity of 220 with all classes, and the fares would be at a premium, Mallya said.
Kingfisher is yet to finalise plans to connect Indian metros with German cities. And, Mallya said that the company is yet to look at the feasibility of flying aircraft between the two countries.