Budget carrier Air Deccan on Friday said it planned to add 96 aircraft to its fleet by 2013 as it seeks to consolidate its position in the Indian skies.
"As of March 31, 2006, we have orders in place for delivery of 96 aircraft. They are scheduled to be delivered up to December 2013," Air Deccan finance controller Devesh Desai told reporters in New Delhi.
He said the company has not yet decided on the financing of the aircraft orders. "We will decide whether we have to go for funding through debt or equity".
At present, the low-cost carrier has a fleet of 29 aircraft. It plans to add 19 aircraft in the next year, of which eight will be leased Airbus A320s, four ATR 72-500s on hire purchase and one of the same to be leased. It will also lease one ATR42-500 aircraft. It is yet to decide the mode of acquisition of five more ATR-72-500s.
Also, Air Deccan needs to decide on the nature of the acquisition of 77 aircraft to be delivered between 2008 and 2013. All the aircraft will be brand new except for one ATR42 and two ATR 72s, which would be acquired as second hand.
Claiming to be the second largest private airliner in India that has carried 4.1 milion passengers since inception in August 2003, the company said it was planning to raise around Rs 400 crore (Rs 4 billion) through its initial public offer.
The issue opens on May 18 and close on May 23 for which a price band has been fixed between Rs 150 and Rs 175.
The issue will constitute 25 per cent of the fully diluted post issue paid capital of the company.
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