India's second largest private carrier Kingfisher Airlines plans to more than double its fleet strength by adding 67 more aircraft by 2016, according to an investors' presentation made by the company.
Presently, the Vijay Mallya-run airline has 61 planes in its fleet. The 67 aircraft, including 42 Airbus 320, 15 Airbus 330, and 10 Airbus 350 and 380 planes, are scheduled to be delivered to Kingfisher over the next six years.
According to the presentation posted on the UB Group's website, the delivery of these aircraft is expected to start from 2012.
In 2012, Kingfisher Airlines is likely to get 10 aircraft -- six Airbus 320 and four Airbus 330 -- and an another 12 (9 Airbus 320 and 3 Airbus 330) will be delivered in 2013. Between 2014 and 2016, the airline is expected to get 45 planes.
Kingfisher also plans to use its A330 fleet for medium-and-long-haul international operations, it added.
The private air carrier, which posted losses to the tune of Rs 420 crore (Rs 4.2 billion) in the third quarter of this fiscal, has a total debt of Rs 7,514 crore (Rs 75.14 billion) as on December 31, 2009.
This includes Rs 2,099 crore (Rs 20.99 billion) in short-term loans and another Rs 907 crore (Rs 9.07 billion) as working capital loans.
