My Account Menu

CAPA Login

Register to trial CAPA Membership!

Kingfisher to delay global depository receipts sale, tops Indian traffic in January


Kingfisher Airlines will reportedly delay its global depository receipts sale until market conditions improve and its stock recovers. The carrier had planned to raise INR15.8 billion (USD350 million) through the sale, which could be pushed back to Mar-2011, before the end of the current fiscal year.

The Indian Ministry of Civil Aviation reported the following Indian domestic traffic highlights in Jan-2011:

  • Passenger numbers: 4.9 million, +20.8% year-on-year;
  • Seat factor:
    • Air India: 69.3%;
    • Jet Airways: 73.9%;
    • JetLite: 74.6%;
    • Kingfisher: 86.5%;
    • SpiceJet: 82.6%;
    • GoAir: 83.3%;
    • IndiGo: 88.6%.

Shares in Kingfisher dipped 4.1% in trading, with the stock losing 38% over the year to date. In other Indian listed carriers, SpiceJet and Jet Airways lost 2.3%.

Selected APAD daily share price movements (% change): 21-Feb-2011

Want more analysis like this? CAPA Membership gives you access to all news and analysis on the site, along with access to many areas of our comprehensive databases and toolsets.
Find out more and take a free trial.