Hyderabad : Airline barons Vijay Mallya and Naresh Goyal today quashed rumours of a merger between Jet Airways and Kingfisher Airlines.
"There is no equity swap. Our understanding is for purely commercial alliance," Mallya said on the sidelines of an aviation show here.
Justifying the coming together of the two airlines, which account for about 60 per cent of the market share, Goyal said that the break-even point for the aviation sector is at 90 per cent capacity utilisation whereas, "We are now operating between 60-70 per cent."
Mumbai, Sept. 11 : The Chairman of Jet Airways, India’s premier private international airline, Naresh Goyal, was honoured with the ‘Business Person of the Year’ award at the prestigious UK Trade and Investment India Business Awards 2008, here on Tuesday.
