Kingfisher signs one billion dollar deal with Airbus
Hannover, April 24 (UNI) Kingfisher Airlines today signed a one billion dollar contract with Airbus for purchase of five aircraft, which the Vijay Mallaya-owned airline will fly on the long-haul non-stop route to the US.
The agreement for the purchase of five A-340-500 planes was signed between Mr Mallaya and Airbus CEO and President Guster Humbert in the presence of Prime Minister Manmohan Singh and German Chancellor Angela Merkel at the India-German Business Summit at the Hannover Fair which opened to the public today.
''I am going to be the only one flying India-US non-stop flights on Airbus 340-500, delivery of which will take place in 2008,'' Mr Mallaya told reporters after signing the deal with Airbus.
He said the financial package for the purchase of the aircraft has already been worked out and there was no question of offering discounted fares on the busy India-US route. ''I am going to be the only one flying non-stop, so there is no question of discounts.
I am going to charge premium fares,'' the UB Group Chief said.
The other Memoranda of Understanding signed in the presence of the Prime Minister and the German Chancellor included the one between the Indian Railways and Deutsche Bahn AG, letter of intent between Force Motors Ltd and Neoman Bus Gmbh and between the Indian Council of Medical Research and the Helmholtz Association of National Research Centres.
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