Air Deccan sells 2 aerosplanes, aircrafts, airplanes to make profit and show profit - Deccan sells two new Airbus planes, to book profit

MUMBAI (Reuters) - Deccan Aviation Ltd has sold a new Airbus A320 aircraft and plans to sell another in two weeks, in deals analysts estimate to fetch at least $10 million in profit, a top company official said on Thursday.
Deccan, which has 52 A320 aircraft on order, went on to sell after deciding it would receive more planes than it needed for the year, Ramki Sundaram, officiating chief executive, said.
"It is part of our fleet management," he said. "We are working on.... how much we needed to add and decided to sell."
Sundaram refused to disclose the price at which the planes were sold or the profit on sale.
"We will book the profit this quarter," is all he said.
He also declined to name the buyer but said the craft would be used for corporate purposes.
Two analysts said Deccan could easily book a profit of $5 million per aircraft, with the market value of the planes estimated at $38-42 million each.
Spirits maker UB group owns 49 percent of the company and is combining the airline operations of Kingfisher Airlines with Deccan. The two together have ordered about 160 A320 and ATR turboprops.
The two are scheduled to receive more than 15 A320 aircraft in 2008, but Sundaram said more such deals were unlikely.
Deccan has a fleet of 41 planes, including 23 A320s.
The sale could bring some succour to the loss making Deccan that reported a loss of 1.91 billion rupees in the quarter to December. The combined entity of Kingfisher and Deccan also plans to sell shares worth $300 million to fund operations.
Indian airlines posted a combined loss of about half a billion dollar in the year to March 2007 and are resorting to sale and lease back of planes and stake sale to stay afloat.