Search the Internet          Tips  Sites: Finance, Investment

IA to finalise Rs 90-bn fleet expansion plan

The Indian Airlines will finalise in six weeks an ambitious Rs 90 bn plan to expand its fleet for acquisition of 39 new aircraft, IA's deputy managing director V P Arora disclosed on Friday.

Talking to reporters in Hyderabad, he said the airlines has chalked out the plan to meet the requirements of traffic growth and also to replace old aircraft. The Union Government has given the go-ahead for expansion in view of the deferment of the divestment plans.

He said the airlines would go to the government with the final plan in one and a half months. It is slated to acquire new aircraft from 2003 to 2008.

Arora said the financial bids have already been received from two airframe manufacturers and four engine manufacturers.

To a question, he said the projection of revenue for this year was the same as last year, around Rs 40 billion.

The September 11 attack in the US had not adversely affected the passenger traffic, though there was no growth.

Earlier, speaking at a national convention on ''preparing the organisation for continuous change'', he explained the various measures initiated by Indian Airlines to enhance its efficiency and performance.

UNI

Money
Business News

Tell us what you think of this report