Worst over claims Kingfisher boss

VIJAY Mallya, Kingfisher Airlines’ chairman, predicted that “the worst is over for the airline industry” when he was speaking at the airline’s annual general meeting in December.

“The fundamentals of the sector are strong,” he added and said that Kingfisher expects to “operationally” break even. The Indian government’s planned fuel tax cut from 26 per cent to four per cent would help the sector’s recovery in combination with private equity funds.

He denied that Kingfisher would buy a stake in Jet Airways which provides ground-handling services as well as other maintenance services for the airline.

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