Friday July 21, 2006

Indian airlines may delay, cancel orders

business-times.asia1.com.sg :

India's airlines, Asia's biggest customers for Airbus SAS and Boeing Co last year, may slow or even cancel orders as they face difficulty raising funds amid mounting losses. Investors have shunned share and debt offerings as they await an industry shakeout. The carriers need to fund the purchase of more than 200 planes valued at US$32 billion ordered from Airbus and Boeing.

The number of planes flying in India has doubled in the past three years as six new carriers started operations, pushing fares down by a third. Airlines also face rising costs for jet fuel, pilots, engineers and landing rights. 'There's going to be a bloodbath in the industry,' said Kalpesh Parekh, an analyst at ASK Raymond James in Mumbai.

(2006-07-21 17:53:33 SGT) [Biz] Permalink

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