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Kingfisher Airlines’ losses are “no longer sustainable”: Mallya

15-Sep-2009

Chairman of Kingfisher Airlines, Vijay Mallya, recently stated the carrier’s losses are “no longer sustainable” and revealed costs more for the carrier to fly than to “stay on the ground”. The carrier’s losses have deepened this fiscal year, with the carrier generating a net loss of USD50.0 million in 1QFY2010, ended 30-Jun-09, up from a loss of USD33.0 million in the previous corresponding period. [1348 words]

Unlock the following content in this report:

Subheadings:

  • Four executives exit in as many months
  • Enters next phase of international expansion
  • Reports growth in domestic market in Jul-2009
  • LCCs enjoy higher seat factors, but Kingfisher remains leader by market share
  • Alliance with Jet Airways under question, although no tangible process yet
  • Launches e-Coupons and Epsilon’s DREAMmail

Graphs and data:

  • Kingfisher Airlines and Deccan combined domestic passenger numbers (thousands) and year-on-year change (%): Jun-2008 to May-2009
  • Indian carriers seat factor: Jul-2009
  • Indian carriers market share: Jul-09
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