Despite mounting losses, Kingfisher will survive: Mallya

New Delhi, Dec 24 (UNI) Despite losses of Rs 347 crore in the first 18 months, Kingfisher Airlines has the power to survive, its chairman and CEO Vijay Mallya says.

''The airline was not a mistake,'' he said in an interview to CNN-IBN television channel. ''Kingfisher Airlines did lose money. It continues to lose money. However, we are losing a lot less than others. That's not comforting but the fact is there is a blood bath.

There will be a shakeout. We have the staying power and the sustenance that it takes.'' Dr Mallya claimed that Kingfisher's average ticket value is among the highest and that it is getting twice the yield of a low fare carrier.

''Kingfisher is a very well differentiated product and acknowledged (as such). Our average ticket value across our network is among the highest in the country. And it (the battle) is only between Jet Airways and Kingfisher. On a typical route, we are getting twice the yield of a low fare carrier.'' Several aviation experts are predicting that airline industry losses could double in the next two years and several airlines would go belly-up. But Dr Mallya insisted that will not happen to Kingfisher.

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