31-May-2010 11:10 AM
Kingfisher Airlines cuts losses in FY2010, expects profits in FY2011
Kingfisher Airlines revenue down 1% - financial/traffic highlights for the 12 months ended 31-Mar-2010:
- Total revenue: USD1,108 million, -1% year-on-year;
- Total operating revenue: USD1,066 million, -3.3%;
- Total costs: USD1,531 million, -9%;
- Total operating costs: USD1,255 million, -15%;
- Fuel: USD379.1 million, -31%;
- Labour: USD144.9 million, -16%;
- Total operating costs: USD1,255 million, -15%;
- EBITDA (loss): (USD146.4 million), compared to a loss of USD366.5 million in p-c-p;
- Profit (loss) before exceptional items and tax: (USD422.7 million), compared to a loss of USD566.3 million in p-c-p;
- Profit (loss) after tax: (USD346.3 million), compared to a loss of USD450.0 million in p-c-p;
- Passenger numbers: 11.1 million, +2%;
- Domestic: 10.5 million, -2%;
- International: 540,000, +487%;
- Passenger seat factor: 71%, +11 ppts;
- Domestic: 71%, +11 ppts;
- International: 66%, +11 ppts;
- Passenger revenue per ASK: USD 9.32 cents, -15%;
- Domestic: USD 10.43 cents, -9%;
- International: USD 4.63 cents, +26%;
- Cost per ASK: USD 8.47 cents, -10%;
- Domestic: USD 8.89 cents, -5%;
- International: USD 6.86 cents, -39%. [more]
*Based on the conversion rate at USD1 = INR47.555
Kingfisher: "Yield improvements witnessed in last two quarters of FY10 are expected to continue given the narrowing of the demand supply gap. The Industry expects domestic yields to improve by 5-7% in 2010-11 and as high as 10% in Q3 of said year…Kingfisher has budgeted for a profitable year ahead ; primarily driven by growth in premium traffic, ATV and significant reduction in costs. International operations are fast moving towards stabilization," Company statement. Source: Kingfisher, 28-May-2010.