Kingfisher/Kingfisher Red - Now aiming to report a profit in 2010
Kingfisher Airlines announced it expects to become profitable by fiscal year 2010, although the carrier could turn around sooner. Chairman and CEO, Dr Vijay Mallya, confirmed he expected the carrier to start performing well from the next quarter, stating, “you will be surprised [on the upside] with the next quarter results itself. We hope to turn profitable by FY10 if ATF prices remain the same”. [1792 words]
Unlock the following content in this report:
- Slows international route roll-out
- Fine-tunes" Bangalore-London Heathrow service
- Scaling back on original fleet expansion programme
- Reduces workforce
- Requests Ministry to allow foreign investment in Indian carriers
- Deccan officially rebranded ‘Kingfisher Red'
Graphs and data:
- Kingfisher passenger traffic & growth rate (% change year-on-year): Jan-07 to Aug-08
- Deccan passenger traffic & growth rate (% change year-on-year): Jan-07 to Aug-08
- Kingfisher's proposed weekly services
- India-UK capacity share: Week commencing 06-Oct-08
- Kingfisher Group current fleet status: 01-Oct-08
- Kingfisher Group expected delivery schedule: 2008-2019
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