Share

Results for Q2FY10


Mumbai, October 28, 2009: Kingfisher Airlines Limited reports improved operating performance in Q2 and the half year ended September 30, 2009 compared to the previous year.


Results for Q2FY10
Kingfisher continues to remain the market leader in the domestic industry with a singular market share of 23.3% in September 2009.

Comparing the results of the current period against the same period last year, Kingfisher has increased its guest count by 9% inspite of a capacity reduction of 17% in the domestic market.

Kingfisher has restructured its operations and has continued to maintain stringent cost control. This has helped the company show a positive EBITDAR of Rs. 44 crores as against a loss of Rs. 207 crores in the corresponding quarter in the previous financial year for its domestic operations. The performance is noteworthy in the backdrop of intense competition and a lean monsoon traffic season leading to an overall pressure on yields (-32% as compared to last year). Certain technical issues also led to grounding of aircraft causing revenue loss and hence a negative impact on the bottom-line.

At the EBITDA level domestic operations showed an operating loss of Rs. 178 crores in the current period as against a loss of Rs. 464 crores in the corresponding period last year. However, on an overall basis, the company has incurred an EBITDA loss of Rs. 336 crores including losses and costs associated with the recent startup of new international routes.

The net loss after tax for Q2 FY10 is Rs. 418.77 crores.

More info on the Financial Results for the quarter ended 30thSept09, click here.


Results for HY FY10
Comparing the results of the current period against the same period last year, Kingfisher had a marginal drop of 4% in its guest count inspite of an 18% capacity reduction in the domestic market.

The company posted a positive EBITDAR of Rs. 296 crores as against a loss of Rs. 509 crores (before reversal of Maintenance reserve payments) in the corresponding half year in the previous financial year in respect of its domestic Operations. This performance was despite intense competition, huge capacity cuts and pressure on yields (-17% as compared to last year). Certain technical issues also led to grounding of aircraft causing revenue loss and a negative impact on the bottom-line.

At the EBITDA level, the domestic operations showed an operating loss of Rs. 165 crores in the current period as against a loss of Rs. 1016 crores (before reversal of Maintenance reserve payments) in the corresponding period last year. However, on an overall basis, the company has incurred an EBITDA loss of Rs. 445 crores including the losses and costs associated with the recent startup of new international routes.

The net loss after tax for H1 FY10 is Rs. 655.85 crores.

A detailed presentation is attached to this note.


International Launches & Outlook
Even in these challenging times, the company continues to take a pragmatic approach towards its international expansion. The Kolkata – Bangkok sector has been added during the quarter using single aisle aircraft thereby increasing the block hour usage of the same metal deployed on domestic routes.

Kingfisher suspended its operations on the Bangalore – London and Bangalore – Colombo routes and have started 2 new routes from Mumbai to Hongkong and Singapore thereby offering its world class services on these sectors using its state of the art Airbus A330-200’s.

Coming into the industry’s peak quarter the company expects to show higher guest numbers and much stronger yields in Q3 FY10. The company continues to lead the market with innovative products such as digital coupons, a first of its kind in Indian Aviation Industry.


For further information, members of the media may contact:

Prakash Mirpuri
Vice President -Corporate
Communications,
The UB Group, Mumbai
Wire line: +91-22-2284 1520

Email:
prakash.mirpuri@flykingfisher.com

Shefali Mehta/ Sabina Lama
IPAN Hill & Knowlton – Mumbai
Mobile: 022-40661781 / 40661779

Email:
smehta@ipanhillandknowlton.com
mailto:slama@ipanhillandknowlton.com

top