Bangalore: An Air Deccan official has said that the embattled airline now expects to turn around much sooner than anticipated - very likely in the next few quarters.
"We are likely to turn profitable during the next few quarters," Air Deccan's officiating CEO, Ramki Sundaram, told the media.
According to Sundaram, the amount of Rs550 crore which it will receive from UB Holdings for a 26 per cent stake in the airline's parent, Deccan Aviation would be utilised for working capital requirements and also for retiring certain debts.
According to Sundaram, the airline's board was now convinced more than ever before that it took the right step in offering a stake to UB Holdings. He also added that the company was extremely bullish about the alliance.
As for future plans, Sundaram, who is also the airline's CFO, said that the airline would take a closer look at the airline's fare slabs, including the low cost ones, making judicious use of it wherever possible.
He said that the emphasis for the airline, currently, would be on rationalization of routes.