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:

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

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