Kingfisher reports first positive annual EBITDA in FY2011

Kingfisher revenue up 23% - financial highlights for the 12 months ended 31-Mar-2011:

• Total revenue: USD1440 million, +23% year-on-year;
• Operating revenue: USD1410 million, +25%;
• Total costs: USD1753 million, +9%;
• Total operating costs: USD1409 million, +7%;
  • Fuel: USD504 million, +26%;
  • Labour: USD149.9 million, -2%;
• EBITDA: USD31.0 million, compared with a loss of USD153.0 million in p-c-p;
• Profit (loss) before tax and exceptional items: (USD313.5 million), compared with a loss of USD445.6 million in p-c-p;
• Profit (loss) after tax: (USD227.7 million), compared with a loss of USD365.1 million in p-c-p;
• Passenger numbers: 12.0 million, +9%;
• Passenger load factor: 81%, +9 ppts;
• Total revenue per ASK: USD 8.91 cents, +13%;
• Passenger revenue per ASK: USD 7.71 cents, +9%;
• EBITDA cost per ASK: USD 8.71 cents, -2%;
• EBITDA cost per ASK excl fuel: USD 5.59 cents, -10%. [more]

* Based on the conversion rate USD1 = INR45.11

Kingfisher: "Demand continues to be robust in current year backed by strong macro-economic environment and growth in most industry sectors. Domestic capacity expansion is expected to remain lower than growth in demand; resulting in continued increase in industry load factors in FY2012. Yields are expected to remain stable. Given the demand/supply situation, airlines have been able to partially offset the fuel price hike with fuel surcharge in the ticket prices," Company statement. Source: Kingfisher Airlines, 23-May-2011.