Kingfisher Airlines 'not a mistake', says Mallya

New Delhi: Vijay Mallya, chairman of United Breweries, said Saturday that his Kingfisher Airlines, despite its losses of Rs.3.47 billion in the first 18 months of its operations, was "not a mistake".
"Kingfisher Airlines will never go belly-up," Mallya insisted in an interview to Karan Thapar for the programme "Devil's Advocate" on CNN-IBN. He claimed that his airline would survive the current shakeout and bloodbath in the domestic civil aviation market.
Mallya said despite heavy losses, his airline was not desperate for cash though there have been expressions of interest from a few private equity investors. He added that the company would break even by 2009.
Ruling out the possibility of bringing an IPO (initial public offering) by Kingfisher Airlines in the near future, he said: "Kingfisher Airlines and the UB Group have consistently maintained that we are not dependent on an IPO.
23/12/06 IANS/Telugu Portal

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